https://www.taxtmi.com/caselaws?id=761496 An application seeking refund of amounts paid in connection with an insolvency-linked arrangement was held maintainable within insolvency jurisdiction because the relief arose from the resolution framework itself. However, money paid as full and final settlement to close a related entity's insolvency process was not refundable after the closure benefit had been obtained and acted upon. By contrast, an initial payment made only toward a proposed resolution plan was refundable where the plan was never approved and no forfeiture term applied. The dispute was therefore sustained only partly, with refund denied for the settled insolvency closure payment but allowed for the unapproved plan amount. en-us Mon, 11 Nov 2024 00:00:00 +0530 Tue, 12 Nov 2024 08:52:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761496 An application seeking refund of amounts paid in connection with an insolvency-linked arrangement was held maintainable within insolvency jurisdiction because the relief arose from the resolution framework itself. However, money paid as full and final settlement to close a related entity's insolvency process was not refundable after the closure benefit had been obtained and acted upon. By contrast, an initial payment made only toward a proposed resolution plan was refundable where the plan was never approved and no forfeiture term applied. The dispute was therefore sustained only partly, with refund denied for the settled insolvency closure payment but allowed for the unapproved plan amount. Case-Laws IBC Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761496