https://www.taxtmi.com/highlights?id=100271 A successful resolution applicant who participated in a CoC-approved process and accepted known stipulations could not later describe the letters of intent as conditional or withdraw from the plan; the objection was rejected and the applicant remained bound by the resolution process. Failure to furnish the performance bank guarantee and comply with the accepted timeline attracted forfeiture of the earnest money deposit under the plan terms, and the forfeiture was upheld. The CoC was also entitled, before confirmation of the resolution plan, to resolve to liquidate the corporate debtor; that decision was treated as an exercise of commercial wisdom, and the challenge to liquidation was dismissed. en-us Sat, 30 May 2026 08:29:40 +0530 Sat, 30 May 2026 08:29:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=100271 A successful resolution applicant who participated in a CoC-approved process and accepted known stipulations could not later describe the letters of intent as conditional or withdraw from the plan; the objection was rejected and the applicant remained bound by the resolution process. Failure to furnish the performance bank guarantee and comply with the accepted timeline attracted forfeiture of the earnest money deposit under the plan terms, and the forfeiture was upheld. The CoC was also entitled, before confirmation of the resolution plan, to resolve to liquidate the corporate debtor; that decision was treated as an exercise of commercial wisdom, and the challenge to liquidation was dismissed. Highlights IBC Sat, 30 May 2026 08:29:40 +0530 https://www.taxtmi.com/highlights?id=100271