https://www.taxtmi.com/caselaws?id=751915 NCLAT Principal Bench dismissed appeal challenging resolution plan approval. CoC unanimously approved plan with 100% voting. Operational creditors received nil payment as their liquidation value was nil, complying with Section 53(1) waterfall mechanism. Financial creditors with admitted claims of Rs. 12,067 crores received Rs. 2,500 crores (20.098% recovery). Court held resolution plan satisfied Section 30(2)(b) requirements and commercial wisdom of CoC remains unjusticiable. Appeal dismissed as without merit. en-us Mon, 29 Apr 2024 00:00:00 +0530 Tue, 30 Apr 2024 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751915 NCLAT Principal Bench dismissed appeal challenging resolution plan approval. CoC unanimously approved plan with 100% voting. Operational creditors received nil payment as their liquidation value was nil, complying with Section 53(1) waterfall mechanism. Financial creditors with admitted claims of Rs. 12,067 crores received Rs. 2,500 crores (20.098% recovery). Court held resolution plan satisfied Section 30(2)(b) requirements and commercial wisdom of CoC remains unjusticiable. Appeal dismissed as without merit. Case-Laws Insolvency and Bankruptcy Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751915