https://www.taxtmi.com/caselaws?id=467971 Rejection of a resolution plan was examined against objections that it lacked a repayment structure, was conditional, and did not comply with CIRP regulations. The plan was described as providing payment to the unsecured financial creditor and adjustment of the secured creditor's admitted dues by the successful resolution applicant in its own capacity as secured creditor, so absence of a fixed repayment schedule was not treated as fatal. The later pendency of approval proceedings did not make the plan conditional. As the plan also reflected the cause of default and offered value above liquidation value and fair value, rejection was considered unwarranted and liquidation was disfavoured where insolvency resolution remained possible. en-us Wed, 25 Sep 2024 00:00:00 +0530 Fri, 10 Apr 2026 11:11:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467971 Rejection of a resolution plan was examined against objections that it lacked a repayment structure, was conditional, and did not comply with CIRP regulations. The plan was described as providing payment to the unsecured financial creditor and adjustment of the secured creditor's admitted dues by the successful resolution applicant in its own capacity as secured creditor, so absence of a fixed repayment schedule was not treated as fatal. The later pendency of approval proceedings did not make the plan conditional. As the plan also reflected the cause of default and offered value above liquidation value and fair value, rejection was considered unwarranted and liquidation was disfavoured where insolvency resolution remained possible. Case-Laws IBC Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467971