https://www.taxtmi.com/caselaws?id=786391 An approved resolution plan that expressly extinguishes encumbrances, security interests and attachments over promoters' and guarantors' assets is binding on dissenting financial creditors. Where the plan settles claims and provides for release of covered assets, recovery or attachment proceedings inconsistent with that plan cannot continue in respect of the resolved debt. The tribunal held that restrictive observations limiting release only to mortgaged or specifically identified properties were contrary to the plan language and its finality, and set those observations aside while leaving the rest of the order intact. en-us Fri, 06 Feb 2026 00:00:00 +0530 Thu, 12 Feb 2026 09:03:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786391 An approved resolution plan that expressly extinguishes encumbrances, security interests and attachments over promoters' and guarantors' assets is binding on dissenting financial creditors. Where the plan settles claims and provides for release of covered assets, recovery or attachment proceedings inconsistent with that plan cannot continue in respect of the resolved debt. The tribunal held that restrictive observations limiting release only to mortgaged or specifically identified properties were contrary to the plan language and its finality, and set those observations aside while leaving the rest of the order intact. Case-Laws IBC Fri, 06 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786391