https://www.taxtmi.com/caselaws?id=760582 The Appellate Tribunal overturned the Adjudicating Authority's decision, allowing the appeal to facilitate the resolution and revival of the corporate debtor. The Appellant was instructed to deposit the balance amount within four weeks and pay the liquidator's incurred expenses. Financial creditors, including the Bank of India, supported the resolution plan, emphasizing resolution over liquidation. The liquidator was permitted to file for fee entitlement. The Tribunal's decision underscored the preference for resolving the corporate debtor's situation, ensuring the implementation of the resolution plan and distribution of funds as per the plan. en-us Tue, 22 Oct 2024 00:00:00 +0530 Wed, 23 Oct 2024 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760582 The Appellate Tribunal overturned the Adjudicating Authority's decision, allowing the appeal to facilitate the resolution and revival of the corporate debtor. The Appellant was instructed to deposit the balance amount within four weeks and pay the liquidator's incurred expenses. Financial creditors, including the Bank of India, supported the resolution plan, emphasizing resolution over liquidation. The liquidator was permitted to file for fee entitlement. The Tribunal's decision underscored the preference for resolving the corporate debtor's situation, ensuring the implementation of the resolution plan and distribution of funds as per the plan. Case-Laws IBC Tue, 22 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760582