https://www.taxtmi.com/caselaws?id=383433 The National Company Law Tribunal - Kolkata Bench approved the resolution plan submitted by M/s. Maruti Ferrous P. Ltd. under section 31(1) of the Insolvency and Bankruptcy Code, 2016, in a case involving a financial creditor's application for corporate insolvency resolution due to default. The plan met the requirements of the law, making it binding on the corporate debtor and stakeholders. The Tribunal emphasized compliance with section 30(2) conditions, including operational creditor payments and management provisions. Affidavits under section 29A were submitted, and a monitoring committee was established for post-approval management. The Tribunal highlighted the treatment of operational creditor claims and government dues, ultimately approving the plan with corrections in the judgment. en-us Fri, 08 Feb 2019 00:00:00 +0530 Wed, 24 Jul 2019 07:37:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383433 The National Company Law Tribunal - Kolkata Bench approved the resolution plan submitted by M/s. Maruti Ferrous P. Ltd. under section 31(1) of the Insolvency and Bankruptcy Code, 2016, in a case involving a financial creditor's application for corporate insolvency resolution due to default. The plan met the requirements of the law, making it binding on the corporate debtor and stakeholders. The Tribunal emphasized compliance with section 30(2) conditions, including operational creditor payments and management provisions. Affidavits under section 29A were submitted, and a monitoring committee was established for post-approval management. The Tribunal highlighted the treatment of operational creditor claims and government dues, ultimately approving the plan with corrections in the judgment. Case-Laws Insolvency and Bankruptcy Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383433