https://www.taxtmi.com/caselaws?id=751381 The Tribunal condoned a 34-day delay in the submission of a report under Section 112(1) due to extended voting requested by creditors. The creditors rejected the Personal Guarantor's repayment plan, with 88.52% dissenting and 11.48% abstaining. Consequently, creditors may file for Bankruptcy under Chapter IV, and the Resolution Professional (RP) is discharged. The Tribunal ordered the payment of the RP's fee and expenses amounting to Rs.6,75,000/-, as approved by 64.01% of the creditors, and disposed of the application accordingly. en-us Thu, 01 Feb 2024 00:00:00 +0530 Tue, 16 Apr 2024 07:10:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751381 The Tribunal condoned a 34-day delay in the submission of a report under Section 112(1) due to extended voting requested by creditors. The creditors rejected the Personal Guarantor's repayment plan, with 88.52% dissenting and 11.48% abstaining. Consequently, creditors may file for Bankruptcy under Chapter IV, and the Resolution Professional (RP) is discharged. The Tribunal ordered the payment of the RP's fee and expenses amounting to Rs.6,75,000/-, as approved by 64.01% of the creditors, and disposed of the application accordingly. Case-Laws Insolvency and Bankruptcy Thu, 01 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751381