https://www.taxtmi.com/caselaws?id=763736 Challenge bidding and post-challenge negotiations under the CIRP Regulations were upheld as valid because the process note and request for resolution plans permitted rounds of bidding, incremental bids, and value-maximising negotiations. The resolution applicant was also found eligible, as "group" was interpreted broadly enough to include the promoter's net worth and turnover for group-level tangible net worth and turnover requirements. Additional GST and income-tax returns were rejected because they were not among the prescribed eligibility documents. No material irregularity under Section 61(3)(ii) was shown, so there was no basis to disturb approval of the resolution plan. en-us Mon, 23 Dec 2024 00:00:00 +0530 Thu, 26 Dec 2024 11:21:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763736 Challenge bidding and post-challenge negotiations under the CIRP Regulations were upheld as valid because the process note and request for resolution plans permitted rounds of bidding, incremental bids, and value-maximising negotiations. The resolution applicant was also found eligible, as "group" was interpreted broadly enough to include the promoter's net worth and turnover for group-level tangible net worth and turnover requirements. Additional GST and income-tax returns were rejected because they were not among the prescribed eligibility documents. No material irregularity under Section 61(3)(ii) was shown, so there was no basis to disturb approval of the resolution plan. Case-Laws IBC Mon, 23 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763736