https://www.taxtmi.com/caselaws?id=751381 Where the voting period for a repayment plan is extended at creditors' request, a consequential delay in filing the report may be condoned as part of the approval process. The creditors' majority-approved resolution professional fee and out-of-pocket expenses become payable as insolvency process costs once such approval is recorded. Rejection of the repayment plan triggers the statutory bankruptcy consequence, enabling the creditors to proceed under the bankruptcy framework and bringing the resolution professional's role to an end. 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 Where the voting period for a repayment plan is extended at creditors' request, a consequential delay in filing the report may be condoned as part of the approval process. The creditors' majority-approved resolution professional fee and out-of-pocket expenses become payable as insolvency process costs once such approval is recorded. Rejection of the repayment plan triggers the statutory bankruptcy consequence, enabling the creditors to proceed under the bankruptcy framework and bringing the resolution professional's role to an end. Case-Laws Insolvency and Bankruptcy Thu, 01 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751381