https://www.taxtmi.com/caselaws?id=762096 The NCLAT Delhi dismissed appeals by commercial space buyers challenging exclusion from corporate debtor's assets and resolution plan approval. The tribunal held that commercial spaces cannot be segregated from CIRP assets, citing SC precedent that resolution plans must comprehensively address all assets and liabilities. Appellants could not claim ownership despite allotment and lease deed execution. The resolution plan offering 100% principal refund or alternate commercial space complied with Section 30(2)(b) IBC requirements, exceeding liquidation value entitlements. The tribunal found no grounds to interfere with the adjudicating authority's commercial wisdom in approving the resolution plan, though granted liberty to claim post-CIRP commencement rent. en-us Thu, 21 Nov 2024 00:00:00 +0530 Fri, 22 Nov 2024 17:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762096 The NCLAT Delhi dismissed appeals by commercial space buyers challenging exclusion from corporate debtor's assets and resolution plan approval. The tribunal held that commercial spaces cannot be segregated from CIRP assets, citing SC precedent that resolution plans must comprehensively address all assets and liabilities. Appellants could not claim ownership despite allotment and lease deed execution. The resolution plan offering 100% principal refund or alternate commercial space complied with Section 30(2)(b) IBC requirements, exceeding liquidation value entitlements. The tribunal found no grounds to interfere with the adjudicating authority's commercial wisdom in approving the resolution plan, though granted liberty to claim post-CIRP commencement rent. Case-Laws IBC Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762096