https://www.taxtmi.com/caselaws?id=461868 The NCLAT dismissed appeals challenging the rejection of a resolution plan and approval of an alternative plan. The unsuccessful resolution applicant failed to submit their expression of interest timely, did not meet mandatory requirements, and made inadequate earnest money deposit. The Committee of Creditors properly exercised commercial wisdom in rejecting the non-compliant plan with 100% voting share. The Adjudicating Authority correctly approved the alternative resolution plan which complied with all legal provisions and addressed stakeholder interests. The Resolution Professional properly rejected belated government claims. No procedural or material irregularities were found in the approval process, and the appellate tribunal upheld both impugned orders. en-us Thu, 14 Sep 2023 00:00:00 +0530 Sat, 03 May 2025 18:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461868 The NCLAT dismissed appeals challenging the rejection of a resolution plan and approval of an alternative plan. The unsuccessful resolution applicant failed to submit their expression of interest timely, did not meet mandatory requirements, and made inadequate earnest money deposit. The Committee of Creditors properly exercised commercial wisdom in rejecting the non-compliant plan with 100% voting share. The Adjudicating Authority correctly approved the alternative resolution plan which complied with all legal provisions and addressed stakeholder interests. The Resolution Professional properly rejected belated government claims. No procedural or material irregularities were found in the approval process, and the appellate tribunal upheld both impugned orders. Case-Laws IBC Thu, 14 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461868