https://www.taxtmi.com/caselaws?id=790528 A resolution plan can be rejected where the CIRP is not conducted transparently and in compliance with disclosure, avoidance-transaction and resolution-plan requirements. The record showed identified avoidance issues, a transaction auditor, and applications filed only after plan approval, but the CoC was not fully informed and the treatment of recoveries was inconsistent with the position that recovered assets belong to the corporate debtor. The appellate tribunal accepted that these defects, together with shortcomings in performance security and CIRP management, justified rejection of the plan, re-running of the CIRP, and further scrutiny of the Resolution Professional's conduct. en-us Fri, 24 Apr 2026 00:00:00 +0530 Mon, 27 Apr 2026 08:21:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790528 A resolution plan can be rejected where the CIRP is not conducted transparently and in compliance with disclosure, avoidance-transaction and resolution-plan requirements. The record showed identified avoidance issues, a transaction auditor, and applications filed only after plan approval, but the CoC was not fully informed and the treatment of recoveries was inconsistent with the position that recovered assets belong to the corporate debtor. The appellate tribunal accepted that these defects, together with shortcomings in performance security and CIRP management, justified rejection of the plan, re-running of the CIRP, and further scrutiny of the Resolution Professional's conduct. Case-Laws IBC Fri, 24 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790528