https://www.taxtmi.com/caselaws?id=311421 IBC section 238 gives the Code overriding effect over inconsistent provisions of the NHB Act and RBI Act in relation to resolution-plan treatment of deposit holders. Fixed and public deposit holders admitted as financial creditors participate through an authorised representative and remain subject to the CIRP distribution framework rather than a separate entitlement to full payment. The moratorium prevents pre-resolution, preferential or out-of-turn repayments outside the approved plan. Committee of Creditors' commercial decisions on distribution are not subject to judicial substitution except within statutory limits. Administrator or resolution professional measures needed to preserve the corporate debtor as a going concern remain within the CIRP framework and do not create out-of-process depositor rights. 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 IBC section 238 gives the Code overriding effect over inconsistent provisions of the NHB Act and RBI Act in relation to resolution-plan treatment of deposit holders. Fixed and public deposit holders admitted as financial creditors participate through an authorised representative and remain subject to the CIRP distribution framework rather than a separate entitlement to full payment. The moratorium prevents pre-resolution, preferential or out-of-turn repayments outside the approved plan. Committee of Creditors' commercial decisions on distribution are not subject to judicial substitution except within statutory limits. Administrator or resolution professional measures needed to preserve the corporate debtor as a going concern remain within the CIRP framework and do not create out-of-process depositor rights. Case-Laws Insolvency and Bankruptcy Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311421