https://www.taxtmi.com/caselaws?id=776680 The NCLAT upheld the Adjudicating Authority's order directing liquidation of the Corporate Debtor. It clarified that under Section 30(4) of the IBC, as amended, approval of a Resolution Plan requires at least 66% of the voting share of all Financial Creditors, including those voting for, against, or abstaining. The percentage is computed on the total voting share of all Financial Creditors, not just those present or voting. The omission of Regulation 2(1)(f) does not affect this interpretation. The appellant's contention to vary the 66% threshold based on creditor attendance was rejected. The appeal was dismissed, affirming the liquidation order after prolonged pendency. en-us Mon, 11 Aug 2025 00:00:00 +0530 Sat, 16 Aug 2025 10:11:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776680 The NCLAT upheld the Adjudicating Authority's order directing liquidation of the Corporate Debtor. It clarified that under Section 30(4) of the IBC, as amended, approval of a Resolution Plan requires at least 66% of the voting share of all Financial Creditors, including those voting for, against, or abstaining. The percentage is computed on the total voting share of all Financial Creditors, not just those present or voting. The omission of Regulation 2(1)(f) does not affect this interpretation. The appellant's contention to vary the 66% threshold based on creditor attendance was rejected. The appeal was dismissed, affirming the liquidation order after prolonged pendency. Case-Laws IBC Mon, 11 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776680