The Supreme Court declined to halt the implementation of Adani Goodhomes Pvt Ltd's resolution plan for the debt-laden Radius Estates & Developers Pvt Ltd, despite an appeal from dissenting financial creditor, Beacon Trusteeship Ltd. Beacon, which argued that the plan imposed a 93% haircut on its claims, will now await further hearings scheduled for January. The Bench, led by Justice Sanjiv Khanna, stated it would review the issue regarding dues payable to Beacon Trusteeship. Beacon had previously contested the National Company Law Appellate Tribunal's (NCLAT) approval of Adani Goodhomes' plan, asserting that the Mumbai bench of the National Company Law Tribunal (NCLT) failed to address the plan's inequity toward secured financial creditors, while offering 100% recovery to homebuyers through allotted units. Beacon's petition to initiate insolvency proceedings against Radius Estates was admitted in April 2021. The creditors' committee for Radius Estates included homebuyers, HDFC Bank Ltd, Piramal Capital, Beacon Trusteeship, and ICICI Prudential. Adani Goodhomes? resolution plan was approved in January 2023. However, ICICI Prudential and Beacon Trusteeship opposed the plan, alleging that the resolution professional, Jayesh Sanghrajka, had colluded with HDFC Bank to favor Adani Goodhomes, resulting in a single bid. They also argued that Radius Estates' liquidation assets were undervalued, pointing to irregularities in the valuation report. Adani Goodhomes had offered approximately Rs 760 million against creditors' claims of around Rs 17 billion. (ET)