https://www.taxtmi.com/caselaws?id=311365 The NCLAT held that the resolution plan for DHFL was validly approved despite objections from fixed deposit holders. The tribunal ruled that FD holders are financial creditors with a debtor-creditor relationship, not trustees, and cannot claim preferential treatment during CIRP. The IBC overrides RBI and NHB Acts, and the Committee of Creditors' commercial wisdom in approving differential payments between creditor classes is not subject to judicial review. The plan met Section 30 requirements and provided minimum liquidation value to creditors. The appeal was disposed of. en-us Thu, 27 Jan 2022 00:00:00 +0530 Thu, 21 Dec 2023 21:01:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311365 The NCLAT held that the resolution plan for DHFL was validly approved despite objections from fixed deposit holders. The tribunal ruled that FD holders are financial creditors with a debtor-creditor relationship, not trustees, and cannot claim preferential treatment during CIRP. The IBC overrides RBI and NHB Acts, and the Committee of Creditors' commercial wisdom in approving differential payments between creditor classes is not subject to judicial review. The plan met Section 30 requirements and provided minimum liquidation value to creditors. The appeal was disposed of. Case-Laws Insolvency and Bankruptcy Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311365