https://www.taxtmi.com/caselaws?id=791831 Separate subsidiaries' foreign oil and gas assets could not be brought into the holding company's CIRP or Information Memorandum merely because the corporate debtor had shareholding, financing linkage, or guarantee exposure. The record treated those assets as distinct from the domestic business, and the later resolution-process findings had already rejected inclusion. The commercial wisdom of the CoC also governed approval of the BPRL-related transaction, and the contractual right of first refusal could not be ignored where the resolution was otherwise legally and commercially workable. The contrary inclusion direction was set aside, while the later approvals were upheld. en-us Thu, 14 May 2026 00:00:00 +0530 Tue, 19 May 2026 08:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791831 Separate subsidiaries' foreign oil and gas assets could not be brought into the holding company's CIRP or Information Memorandum merely because the corporate debtor had shareholding, financing linkage, or guarantee exposure. The record treated those assets as distinct from the domestic business, and the later resolution-process findings had already rejected inclusion. The commercial wisdom of the CoC also governed approval of the BPRL-related transaction, and the contractual right of first refusal could not be ignored where the resolution was otherwise legally and commercially workable. The contrary inclusion direction was set aside, while the later approvals were upheld. Case-Laws IBC Thu, 14 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791831