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Insolvency and BankruptcyApril 15, 2021Case LawsAT
Approval of resolution plan - change the main business of the ‘Corporate Debtor’ form printing business to running Data Centers - Thus, it can be seen from the Sections 30(2) & 31 and Regulations 37, 38 and 39 that there is nothing in the Code which prevents a ‘Resolution Applicant’ from changing the present line of business to adding value or creating ‘Synergy’ to the existing assets and converting an obsolete line of business to a more ‘viable and feasible’ option. - AT
Approval of resolution plan - change the main business of the ‘Corporate Debtor’ form printing business to running Data Centers - Thus, it can be seen from the Sections 30(2) & 31 and Regulations 37, 38 and 39 that there is nothing in the Code which prevents a ‘Resolution Applicant’ from changing the present line of business to adding value or creating ‘Synergy’ to the existing assets and converting an obsolete line of business to a more ‘viable and feasible’ option. - AT
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