https://www.taxtmi.com/caselaws?id=381445 The Tribunal upheld the approval of the Resolution Plan for Divya Jyoti Sponge Iron Private Limited submitted by CP Ispat Private Limited, dismissing challenges from shareholders/promoters. Mr. Sunil Jain's plan was rejected for ineligibility under Section 29A(c) of the I&B Code. Mr. Prakash Chand Jain's plan was rejected for being late and inferior. The Tribunal modified the plan to pay dues to M/s. MV Projects within 30 days. The contempt application was dismissed. Appeals by Mr. Sunil Jain and Mr. Prakash Chand Jain were dismissed, while M/s. MV Projects' appeal was allowed for dues payment. en-us Wed, 24 Apr 2019 00:00:00 +0530 Tue, 11 Jun 2019 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381445 The Tribunal upheld the approval of the Resolution Plan for Divya Jyoti Sponge Iron Private Limited submitted by CP Ispat Private Limited, dismissing challenges from shareholders/promoters. Mr. Sunil Jain's plan was rejected for ineligibility under Section 29A(c) of the I&B Code. Mr. Prakash Chand Jain's plan was rejected for being late and inferior. The Tribunal modified the plan to pay dues to M/s. MV Projects within 30 days. The contempt application was dismissed. Appeals by Mr. Sunil Jain and Mr. Prakash Chand Jain were dismissed, while M/s. MV Projects' appeal was allowed for dues payment. Case-Laws Insolvency and Bankruptcy Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381445