https://www.taxtmi.com/caselaws?id=447464 NCLAT held that the Adjudicating Authority erred in conditioning approval of a resolution plan on obtaining SC clarification regarding a 2013 restraint order. The tribunal found that the SC's 2013 direction to Sahara Group not to part with properties had no bearing on the CIRP process of the corporate debtor, which was also a Sahara group company. The resolution plan, approved by 100% CoC, could not be fettered by the 2013 order, as clarified by SC in 2016. The appeal was allowed. en-us Fri, 22 Dec 2023 00:00:00 +0530 Tue, 26 Dec 2023 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447464 NCLAT held that the Adjudicating Authority erred in conditioning approval of a resolution plan on obtaining SC clarification regarding a 2013 restraint order. The tribunal found that the SC's 2013 direction to Sahara Group not to part with properties had no bearing on the CIRP process of the corporate debtor, which was also a Sahara group company. The resolution plan, approved by 100% CoC, could not be fettered by the 2013 order, as clarified by SC in 2016. The appeal was allowed. Case-Laws Insolvency and Bankruptcy Fri, 22 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447464