https://www.taxtmi.com/caselaws?id=466076 Approval of a resolution plan approved by the committee of creditors is subject to limited judicial scrutiny confined to whether the plan meets the statutory requirements; the adjudicating authority must satisfy itself that the plan conforms to the prescribed criteria, failing which it may be rejected. On approval, claims not included in the resolution plan are extinguished and no person may initiate or continue proceedings in respect of such antecedent claims. Management and affairs vest pursuant to the approved plan and the moratorium ceases. The corporate debtor must obtain any requisite statutory approvals within one year, and records of the CIRP and plan are to be forwarded to the regulator. en-us Fri, 26 Apr 2024 00:00:00 +0530 Fri, 16 Jan 2026 16:47:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466076 Approval of a resolution plan approved by the committee of creditors is subject to limited judicial scrutiny confined to whether the plan meets the statutory requirements; the adjudicating authority must satisfy itself that the plan conforms to the prescribed criteria, failing which it may be rejected. On approval, claims not included in the resolution plan are extinguished and no person may initiate or continue proceedings in respect of such antecedent claims. Management and affairs vest pursuant to the approved plan and the moratorium ceases. The corporate debtor must obtain any requisite statutory approvals within one year, and records of the CIRP and plan are to be forwarded to the regulator. Case-Laws IBC Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466076