https://www.taxtmi.com/caselaws?id=751392 A former director whose resolution proposal was earlier rejected during the CIRP was not permitted to revive or advance the same scheme at a later stage, the Court emphasising finality of the insolvency process where an opportunity to participate had already been available and rejected on merits. The Court also declined remand to the NCLAT, treating it as futile because the sale had followed a long, open competitive process in which interested parties could participate, making further reconsideration unnecessary. The sale was therefore treated as final, and the appeal was dismissed to that extent. en-us Tue, 09 Apr 2024 00:00:00 +0530 Tue, 16 Apr 2024 07:10:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751392 A former director whose resolution proposal was earlier rejected during the CIRP was not permitted to revive or advance the same scheme at a later stage, the Court emphasising finality of the insolvency process where an opportunity to participate had already been available and rejected on merits. The Court also declined remand to the NCLAT, treating it as futile because the sale had followed a long, open competitive process in which interested parties could participate, making further reconsideration unnecessary. The sale was therefore treated as final, and the appeal was dismissed to that extent. Case-Laws Insolvency and Bankruptcy Tue, 09 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751392