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        Case ID :
        Insolvency and Bankruptcy

        Approval of Resolution Plan - extinguishment of security...

        Resolution Plan Approved: Complies with Legal Requirements, Overturning Previous Authority's Unsustainable View.

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                          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.
                                Approval of Resolution Plan - extinguishment of security interest and the guarantees - Resolution Plan in question has consciously dealt with securities and personal guarantees given to the Financial Creditors including the dissenting Financial Creditors and the said clauses of the Resolution Plan do not contravene any provisions of Section 30, sub-section (2) as well as CIRP Regulations, 2016. The view of the Adjudicating Authority that Resolution Plan is contrary to provisions of Section 30, sub-section (2) is unsustainable and deserved to be set-aside. - Plan approved - AT
                                Note: It is a system-generated summary and is for quick reference only.
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