https://www.taxtmi.com/caselaws?id=312842 NCLAT dismissed an operational creditor's appeal challenging a resolution plan that allocated no amount to the appellant. The tribunal found the liquidation value was nil as per Form H submitted by the resolution professional, with even government operational creditors having verified claims of Rs. 295.18 crores receiving nothing. NCLAT held no error existed in the allocation since operational creditors are only entitled to minimum liquidation value under Section 30(2)(b), and no breach of statutory provisions was demonstrated. The appeal was dismissed with no interference warranted in the approved resolution plan. en-us Wed, 18 Jan 2023 00:00:00 +0530 Tue, 12 Mar 2024 07:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312842 NCLAT dismissed an operational creditor's appeal challenging a resolution plan that allocated no amount to the appellant. The tribunal found the liquidation value was nil as per Form H submitted by the resolution professional, with even government operational creditors having verified claims of Rs. 295.18 crores receiving nothing. NCLAT held no error existed in the allocation since operational creditors are only entitled to minimum liquidation value under Section 30(2)(b), and no breach of statutory provisions was demonstrated. The appeal was dismissed with no interference warranted in the approved resolution plan. Case-Laws Insolvency and Bankruptcy Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312842