https://www.taxtmi.com/caselaws?id=447787 The SC held that amendments to Section 30(2) under Explanation 2 apply to pending appeals before NCLAT when not time-barred. The court clarified that amended provisions apply to proceedings at adjudicating authority, appellate authority, or courts unless resolution plans have attained finality. Under Section 30(2)(b)(ii), dissenting financial creditors and operational creditors must receive minimum payment not less than liquidation value under Section 53(1). The CoC can determine distribution among creditors but must ensure dissenting creditors receive liquidation-equivalent amounts. No conflict exists between Section 30(4) and amended Section 30(2)(b) as they address different aspects. The matter was referred to a larger bench for further consideration. en-us Wed, 03 Jan 2024 00:00:00 +0530 Fri, 05 Jan 2024 08:45:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447787 The SC held that amendments to Section 30(2) under Explanation 2 apply to pending appeals before NCLAT when not time-barred. The court clarified that amended provisions apply to proceedings at adjudicating authority, appellate authority, or courts unless resolution plans have attained finality. Under Section 30(2)(b)(ii), dissenting financial creditors and operational creditors must receive minimum payment not less than liquidation value under Section 53(1). The CoC can determine distribution among creditors but must ensure dissenting creditors receive liquidation-equivalent amounts. No conflict exists between Section 30(4) and amended Section 30(2)(b) as they address different aspects. The matter was referred to a larger bench for further consideration. Case-Laws Insolvency and Bankruptcy Wed, 03 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447787