Resolution plan approval framework governs submission, evaluation, voting, and implementation requirements in corporate insolvency resolution. Prospective resolution applicants in the final list may submit resolution plans electronically within the specified time, with an affidavit of eligibility under section 29A and an undertaking that the information and records furnished are true and correct. The committee shall not consider late or non-compliant plans, and the resolution professional must place all plans before the committee together with details of non-compliant plans and any preferential, undervalued, extortionate, or fraudulent transactions noticed, found, or determined. The committee evaluates compliant plans by the evaluation matrix, records its deliberations on feasibility, viability, value realisation, and market discovery, and votes on the plans simultaneously, with special rules for one plan, multiple plans, tie-breakers, and going-concern treatment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Resolution plan approval framework governs submission, evaluation, voting, and implementation requirements in corporate insolvency resolution.
Prospective resolution applicants in the final list may submit resolution plans electronically within the specified time, with an affidavit of eligibility under section 29A and an undertaking that the information and records furnished are true and correct. The committee shall not consider late or non-compliant plans, and the resolution professional must place all plans before the committee together with details of non-compliant plans and any preferential, undervalued, extortionate, or fraudulent transactions noticed, found, or determined. The committee evaluates compliant plans by the evaluation matrix, records its deliberations on feasibility, viability, value realisation, and market discovery, and votes on the plans simultaneously, with special rules for one plan, multiple plans, tie-breakers, and going-concern treatment.
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