https://www.taxtmi.com/caselaws?id=771909 Unlawful confirmation of an Interim Resolution Professional as Resolution Professional, execution of a memorandum of understanding without prior Committee of Creditors approval, and misrepresentation to the Committee of Creditors were treated as serious CIRP violations. The Tribunal found that such non-compliance, including retrospective execution and indicators of related-party connection, constituted material irregularities affecting fairness, transparency, and integrity of the insolvency process. Those defects were held to vitiate the approval process, with the result that the approved Resolution Plan could not be sustained and the impugned approval order was set aside. en-us Thu, 20 Feb 2025 00:00:00 +0530 Tue, 27 May 2025 18:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771909 Unlawful confirmation of an Interim Resolution Professional as Resolution Professional, execution of a memorandum of understanding without prior Committee of Creditors approval, and misrepresentation to the Committee of Creditors were treated as serious CIRP violations. The Tribunal found that such non-compliance, including retrospective execution and indicators of related-party connection, constituted material irregularities affecting fairness, transparency, and integrity of the insolvency process. Those defects were held to vitiate the approval process, with the result that the approved Resolution Plan could not be sustained and the impugned approval order was set aside. Case-Laws IBC Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771909