https://www.taxtmi.com/caselaws?id=751961 NCLAT dismissed appeal filed by minority homebuyers challenging resolution plan approval. Court held that where majority homebuyers (87.60%) voted in favor of resolution plan through authorized representative, dissenting minority homebuyers must follow majority decision and cannot challenge the plan in appeal. Appellants did not qualify as "aggrieved persons" under the law and lacked standing to maintain the appeal. NCLAT relied on SC precedent and Section 25A of the Code, emphasizing that minority homebuyers are bound by majority class decision in insolvency proceedings. en-us Mon, 29 Apr 2024 00:00:00 +0530 Tue, 30 Apr 2024 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751961 NCLAT dismissed appeal filed by minority homebuyers challenging resolution plan approval. Court held that where majority homebuyers (87.60%) voted in favor of resolution plan through authorized representative, dissenting minority homebuyers must follow majority decision and cannot challenge the plan in appeal. Appellants did not qualify as "aggrieved persons" under the law and lacked standing to maintain the appeal. NCLAT relied on SC precedent and Section 25A of the Code, emphasizing that minority homebuyers are bound by majority class decision in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Mon, 29 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751961