https://www.taxtmi.com/caselaws?id=456281 The SC upheld the NCLAT's decision fixing the interest rate at 14.85% per annum for the Corporate Debtor's debt to ARCIL. The Court directed the Resolution Professional to re-verify the claim at this rate and submit it to the CoC. The re-verification will not affect the Resolution Plan's implementation. Appellants may challenge the Resolution Plan's approval as per the law. Appeals and pending applications were disposed of. In a separate civil appeal, the Court dismissed the contempt petition and disposed of pending applications. en-us Fri, 10 May 2024 00:00:00 +0530 Sat, 13 Jul 2024 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456281 The SC upheld the NCLAT's decision fixing the interest rate at 14.85% per annum for the Corporate Debtor's debt to ARCIL. The Court directed the Resolution Professional to re-verify the claim at this rate and submit it to the CoC. The re-verification will not affect the Resolution Plan's implementation. Appellants may challenge the Resolution Plan's approval as per the law. Appeals and pending applications were disposed of. In a separate civil appeal, the Court dismissed the contempt petition and disposed of pending applications. Case-Laws Insolvency and Bankruptcy Fri, 10 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456281