https://www.taxtmi.com/caselaws?id=759178 NCLAT dismissed appeals challenging approval of resolution plan by Trinity India Forgetech Pvt. Ltd. with 92.87% vote shares. Court rejected application for revised resolution plan submission by Saverni Neutech Pvt. Ltd., finding no error in adjudicating authority's decision as applicant failed to submit plan within prescribed time. Regarding Prem Trading Company's appeal claiming voting rights denial, NCLAT held that authorized representative correctly exited voting after participating in EOI process as co-resolution applicant, creating conflict of interest. Court noted Prem Trading's 2.48% vote share would not affect outcome given Trinity's overwhelming approval margin. en-us Mon, 23 Sep 2024 00:00:00 +0530 Thu, 26 Sep 2024 08:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759178 NCLAT dismissed appeals challenging approval of resolution plan by Trinity India Forgetech Pvt. Ltd. with 92.87% vote shares. Court rejected application for revised resolution plan submission by Saverni Neutech Pvt. Ltd., finding no error in adjudicating authority's decision as applicant failed to submit plan within prescribed time. Regarding Prem Trading Company's appeal claiming voting rights denial, NCLAT held that authorized representative correctly exited voting after participating in EOI process as co-resolution applicant, creating conflict of interest. Court noted Prem Trading's 2.48% vote share would not affect outcome given Trinity's overwhelming approval margin. Case-Laws IBC Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759178