https://www.taxtmi.com/caselaws?id=752152 The NCLAT Chennai directed respondents to deposit Rs.543.28 crores in an escrow account, representing the differential amount between appellants' entitlement and the resolution plan value. The tribunal ordered this deposit to safeguard appellants' interests pending final determination of the main company appeal, ensuring no serious prejudice occurs to their rights. The plan approval proceedings were made subject to the appeal's final outcome. The tribunal emphasized fair play and good conscience to prevent aberration of justice. The appeal was disposed of with these interim protective measures in place. en-us Fri, 03 May 2024 00:00:00 +0530 Fri, 03 May 2024 22:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752152 The NCLAT Chennai directed respondents to deposit Rs.543.28 crores in an escrow account, representing the differential amount between appellants' entitlement and the resolution plan value. The tribunal ordered this deposit to safeguard appellants' interests pending final determination of the main company appeal, ensuring no serious prejudice occurs to their rights. The plan approval proceedings were made subject to the appeal's final outcome. The tribunal emphasized fair play and good conscience to prevent aberration of justice. The appeal was disposed of with these interim protective measures in place. Case-Laws Insolvency and Bankruptcy Fri, 03 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752152