https://www.taxtmi.com/caselaws?id=311421 The NCLAT dismissed appeals challenging a resolution plan for a housing finance corporation that extinguished fixed deposit holders' claims without full payment. The appellants argued this violated NHB Act and RBI Act provisions, constituted preferential transactions, and exceeded the Committee of Creditors' commercial wisdom. The NCLAT declined to re-examine these issues as they had already been decided in previous appeals involving the same resolution plan and similar parties. The tribunal found no grounds for interference with the adjudicating authority's approval of the resolution plan and disposed of the appeals accordingly. en-us Mon, 07 Feb 2022 00:00:00 +0530 Mon, 25 Dec 2023 09:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311421 The NCLAT dismissed appeals challenging a resolution plan for a housing finance corporation that extinguished fixed deposit holders' claims without full payment. The appellants argued this violated NHB Act and RBI Act provisions, constituted preferential transactions, and exceeded the Committee of Creditors' commercial wisdom. The NCLAT declined to re-examine these issues as they had already been decided in previous appeals involving the same resolution plan and similar parties. The tribunal found no grounds for interference with the adjudicating authority's approval of the resolution plan and disposed of the appeals accordingly. Case-Laws Insolvency and Bankruptcy Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311421