https://www.taxtmi.com/caselaws?id=788497 Mandatory bid conditions for a resolution plan were not complied with where the earnest money deposit was credited only after the stipulated deadline; acceptance of such a belated deposit rendered the plan non-responsive and contrary to the request for resolution plan. The approval process was also unsustainable because the evaluation did not properly reflect value maximisation, with inadequate consideration of unsecured and operational creditors and unexplained scoring anomalies favouring the selected applicant. A dissenting financial creditor was held entitled to challenge the approval where illegality, non-compliance and procedural unfairness were alleged. The approval order was set aside, the plan invalidated, and the matter remitted for fresh consideration of the remaining plans in accordance with law. en-us Thu, 19 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 08:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788497 Mandatory bid conditions for a resolution plan were not complied with where the earnest money deposit was credited only after the stipulated deadline; acceptance of such a belated deposit rendered the plan non-responsive and contrary to the request for resolution plan. The approval process was also unsustainable because the evaluation did not properly reflect value maximisation, with inadequate consideration of unsecured and operational creditors and unexplained scoring anomalies favouring the selected applicant. A dissenting financial creditor was held entitled to challenge the approval where illegality, non-compliance and procedural unfairness were alleged. The approval order was set aside, the plan invalidated, and the matter remitted for fresh consideration of the remaining plans in accordance with law. Case-Laws IBC Thu, 19 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788497