https://www.taxtmi.com/caselaws?id=767054 NCLAT dismissed the appeal challenging approval of resolution plan by operational creditor. The appellant contested plan approval after 330-day CIRP period expiry and claimed inadequate operational creditor dues. NCLAT held that operational creditor received proper notices, participated in CoC meetings, and was aware of timeline extensions but failed to raise objections timely. The resolution plan, approved by 97.36% vote share, complied with Section 30(2)(b) IBC provisions ensuring operational creditors receive amounts not less than liquidation entitlements. NCLAT emphasized limited judicial review scope and deference to CoC's commercial wisdom, finding no material irregularities or legal contraventions warranting interference. en-us Fri, 07 Mar 2025 00:00:00 +0530 Mon, 10 Mar 2025 08:42:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767054 NCLAT dismissed the appeal challenging approval of resolution plan by operational creditor. The appellant contested plan approval after 330-day CIRP period expiry and claimed inadequate operational creditor dues. NCLAT held that operational creditor received proper notices, participated in CoC meetings, and was aware of timeline extensions but failed to raise objections timely. The resolution plan, approved by 97.36% vote share, complied with Section 30(2)(b) IBC provisions ensuring operational creditors receive amounts not less than liquidation entitlements. NCLAT emphasized limited judicial review scope and deference to CoC's commercial wisdom, finding no material irregularities or legal contraventions warranting interference. Case-Laws IBC Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767054