https://www.taxtmi.com/caselaws?id=792400 Committee of Creditors' approval of a resolution plan may be refused only for a demonstrated failure to satisfy the statutory requirements of Section 30(2) of the Insolvency and Bankruptcy Code. Valuation methodology, disclosed disputed assets and commercial terms generally remain within the Committee's commercial wisdom, particularly where the plan is on an as-is-where-is and no-recourse basis. Statutory dues subject to Rainbow Papers may be addressed through implementation without changing approved commercial terms. Full CIRP costs and valid employee, workmen and statutory claims must be provided for. Fresh settlement proposals by suspended management cannot reopen an approved plan or prolong the insolvency process through reconsideration by the Committee of Creditors. en-us Mon, 25 May 2026 00:00:00 +0530 Thu, 28 May 2026 08:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792400 Committee of Creditors' approval of a resolution plan may be refused only for a demonstrated failure to satisfy the statutory requirements of Section 30(2) of the Insolvency and Bankruptcy Code. Valuation methodology, disclosed disputed assets and commercial terms generally remain within the Committee's commercial wisdom, particularly where the plan is on an as-is-where-is and no-recourse basis. Statutory dues subject to Rainbow Papers may be addressed through implementation without changing approved commercial terms. Full CIRP costs and valid employee, workmen and statutory claims must be provided for. Fresh settlement proposals by suspended management cannot reopen an approved plan or prolong the insolvency process through reconsideration by the Committee of Creditors. Case-Laws IBC Mon, 25 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792400