https://www.taxtmi.com/article/detailed?id=12617 A resolution plan approved under the insolvency framework requires the Successful Resolution Applicant to fulfil all conditions precedent and to make payments as specified; deviations or adjustments to those obligations are impermissible. The resolution professional and committee of creditors must ensure statutory payment priorities and post-approval management provisions before the adjudicating authority approves a plan, which then becomes binding on the corporate debtor and stakeholders. An interlocutory adjustment substituting a mandated payment tranche with an adjustment against a performance bank guarantee was held impermissible, and outstanding payment obligations must be met within the prescribed schedule while the guarantee remains in effect pending appeal. en-us Sat, 18 May 2024 17:24:26 +0530 Sat, 18 May 2024 17:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12617 A resolution plan approved under the insolvency framework requires the Successful Resolution Applicant to fulfil all conditions precedent and to make payments as specified; deviations or adjustments to those obligations are impermissible. The resolution professional and committee of creditors must ensure statutory payment priorities and post-approval management provisions before the adjudicating authority approves a plan, which then becomes binding on the corporate debtor and stakeholders. An interlocutory adjustment substituting a mandated payment tranche with an adjustment against a performance bank guarantee was held impermissible, and outstanding payment obligations must be met within the prescribed schedule while the guarantee remains in effect pending appeal. Articles Goods and Services Tax - GST Sat, 18 May 2024 17:24:26 +0530 https://www.taxtmi.com/article/detailed?id=12617