https://www.taxtmi.com/caselaws?id=467659 A resolution plan under the Insolvency and Bankruptcy Code, 2016 was found compliant with Section 30(2) and the connected regulations because it provided for insolvency resolution process costs, operational creditor treatment, management and supervision arrangements, and no contravention of law, while also reflecting a value above liquidation value. The Adjudicating Authority reiterated that its review is limited to statutory compliance and does not extend to the commercial wisdom of the Committee of Creditors, which had approved the plan unanimously. Ancillary reliefs seeking waiver of stamp duty, tax liability and registration charges were declined, while the relief relating to offences under Section 32A was granted. The approved plan was stated to bind stakeholders, with only the expressly granted reliefs effective. en-us Mon, 15 May 2023 00:00:00 +0530 Mon, 30 Mar 2026 10:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467659 A resolution plan under the Insolvency and Bankruptcy Code, 2016 was found compliant with Section 30(2) and the connected regulations because it provided for insolvency resolution process costs, operational creditor treatment, management and supervision arrangements, and no contravention of law, while also reflecting a value above liquidation value. The Adjudicating Authority reiterated that its review is limited to statutory compliance and does not extend to the commercial wisdom of the Committee of Creditors, which had approved the plan unanimously. Ancillary reliefs seeking waiver of stamp duty, tax liability and registration charges were declined, while the relief relating to offences under Section 32A was granted. The approved plan was stated to bind stakeholders, with only the expressly granted reliefs effective. Case-Laws Companies Law Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467659