https://www.taxtmi.com/caselaws?id=450723 The Adjudicating Authority granted interim relief to a public sector bank, restraining the Committee of Creditors (COC) from considering and approving resolution plans due to concerns over exorbitant interest rates and charges admitted by the Resolution Professional. The Authority found the COC's role outside the ambit of the Insolvency and Bankruptcy Code (IBC) and deemed the bank's request for relief valid. The Authority ordered a halt on voting rights related to resolution plans until the matter is resolved, without expressing any opinion on the underlying issues. The Appellate Tribunal disposed of the appeal accordingly. en-us Thu, 07 Mar 2024 00:00:00 +0530 Mon, 11 Mar 2024 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450723 The Adjudicating Authority granted interim relief to a public sector bank, restraining the Committee of Creditors (COC) from considering and approving resolution plans due to concerns over exorbitant interest rates and charges admitted by the Resolution Professional. The Authority found the COC's role outside the ambit of the Insolvency and Bankruptcy Code (IBC) and deemed the bank's request for relief valid. The Authority ordered a halt on voting rights related to resolution plans until the matter is resolved, without expressing any opinion on the underlying issues. The Appellate Tribunal disposed of the appeal accordingly. Case-Laws Insolvency and Bankruptcy Thu, 07 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450723