https://www.taxtmi.com/caselaws?id=757940 A resolution applicant was not shown to be a related party merely because of participation in a joint venture; absent evidence of nexus or control, related-party ineligibility under the insolvency code was not attracted. The article also states that once a resolution plan is approved, it binds the corporate debtor, creditors and other stakeholders, and the post-approval regime operates on a clean slate. In that framework, claims must be dealt with within the resolution process, and section 32A protects the corporate debtor's assets from attachment for prior offences, subject to statutory conditions. Accordingly, the writ reliefs sought to compel banks or the RBI to intervene were declined. en-us Mon, 05 Aug 2024 00:00:00 +0530 Thu, 05 Sep 2024 07:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757940 A resolution applicant was not shown to be a related party merely because of participation in a joint venture; absent evidence of nexus or control, related-party ineligibility under the insolvency code was not attracted. The article also states that once a resolution plan is approved, it binds the corporate debtor, creditors and other stakeholders, and the post-approval regime operates on a clean slate. In that framework, claims must be dealt with within the resolution process, and section 32A protects the corporate debtor's assets from attachment for prior offences, subject to statutory conditions. Accordingly, the writ reliefs sought to compel banks or the RBI to intervene were declined. Case-Laws Insolvency and Bankruptcy Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757940