https://www.taxtmi.com/caselaws?id=450068 NCLAT dismissed appeals by promoters/directors challenging approval of Suraksha Realty's resolution plan for a real estate corporate debtor. The tribunal rejected challenges regarding income tax treatment as operational creditor, YEIDA claims, and guarantor subrogation rights, citing SC precedents that resolution plan approval doesn't discharge guarantor liability. NCLAT found no violation of Section 30(2) provisions and noted appellants lacked clean hands, having delayed homebuyer possession for years through appeals. The adjudicating authority's reliefs and concessions were deemed within jurisdiction. en-us Wed, 21 Feb 2024 00:00:00 +0530 Sat, 25 Jan 2025 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450068 NCLAT dismissed appeals by promoters/directors challenging approval of Suraksha Realty's resolution plan for a real estate corporate debtor. The tribunal rejected challenges regarding income tax treatment as operational creditor, YEIDA claims, and guarantor subrogation rights, citing SC precedents that resolution plan approval doesn't discharge guarantor liability. NCLAT found no violation of Section 30(2) provisions and noted appellants lacked clean hands, having delayed homebuyer possession for years through appeals. The adjudicating authority's reliefs and concessions were deemed within jurisdiction. Case-Laws IBC Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450068