https://www.taxtmi.com/caselaws?id=445375 A resolution plan under the insolvency framework may lawfully supersede prior contractual arrangements and pre-resolution remedies where the clauses are confined to past acts, past claims and claims up to the approval or effective date. The restriction on pursuing RERA remedies was upheld because it did not operate as a blanket bar on future violations after the plan became effective. The revised sale price and altered project terms were treated as part of the revival exercise, and the Committee of Creditors' commercial decision to fix a uniform MSP for homebuyers was not found to be unlawful. The challenge to the plan therefore failed. en-us Thu, 02 Nov 2023 00:00:00 +0530 Mon, 06 Nov 2023 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445375 A resolution plan under the insolvency framework may lawfully supersede prior contractual arrangements and pre-resolution remedies where the clauses are confined to past acts, past claims and claims up to the approval or effective date. The restriction on pursuing RERA remedies was upheld because it did not operate as a blanket bar on future violations after the plan became effective. The revised sale price and altered project terms were treated as part of the revival exercise, and the Committee of Creditors' commercial decision to fix a uniform MSP for homebuyers was not found to be unlawful. The challenge to the plan therefore failed. Case-Laws Insolvency and Bankruptcy Thu, 02 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445375