https://www.taxtmi.com/caselaws?id=313733 Fixed deposit holders of a financial service provider were treated as financial creditors under the insolvency framework, because the deposits were reflected as liabilities and no statutory trust over the amounts was established. The Code governed repayment, its non obstante clause prevailed over inconsistent provisions in the National Housing Bank Act and the Reserve Bank of India Act, and those enactments did not secure full repayment. The approved resolution plan was also left undisturbed, because review was confined by the Code and the Committee of Creditors' commercial wisdom could not be substituted absent a legal infirmity in distribution. en-us Thu, 27 Jan 2022 00:00:00 +0530 Tue, 30 Apr 2024 21:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313733 Fixed deposit holders of a financial service provider were treated as financial creditors under the insolvency framework, because the deposits were reflected as liabilities and no statutory trust over the amounts was established. The Code governed repayment, its non obstante clause prevailed over inconsistent provisions in the National Housing Bank Act and the Reserve Bank of India Act, and those enactments did not secure full repayment. The approved resolution plan was also left undisturbed, because review was confined by the Code and the Committee of Creditors' commercial wisdom could not be substituted absent a legal infirmity in distribution. Case-Laws Insolvency and Bankruptcy Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313733