https://www.taxtmi.com/caselaws?id=759734 A Resolution Professional may maintain a recall application even after approval of the resolution plan where the application was instituted during CIRP and concerns matters surviving the insolvency process. The recall-review distinction was applied: recall is available to correct factual mistakes, procedural irregularities, or similar errors prejudicing a party, while review entails re-examination on merits. On that basis, correction of mistaken party and asset identification, together with consequential directions such as return of equipment and liberty to pursue related claims, was treated as a valid exercise of recall and not an impermissible review. en-us Fri, 04 Oct 2024 00:00:00 +0530 Mon, 07 Oct 2024 18:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759734 A Resolution Professional may maintain a recall application even after approval of the resolution plan where the application was instituted during CIRP and concerns matters surviving the insolvency process. The recall-review distinction was applied: recall is available to correct factual mistakes, procedural irregularities, or similar errors prejudicing a party, while review entails re-examination on merits. On that basis, correction of mistaken party and asset identification, together with consequential directions such as return of equipment and liberty to pursue related claims, was treated as a valid exercise of recall and not an impermissible review. Case-Laws IBC Fri, 04 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759734