https://www.taxtmi.com/caselaws?id=284869 The Adjudicating Authority (AA) approved the Resolution Plan submitted by Osian India for Aryavart Chemicals Private Limited, emphasizing adherence to Insolvency and Bankruptcy Code provisions. The plan, offering Rs. 6,10,61,280/-, addressed operational issues and financial restructuring, relying on internal accruals and family net worth for funding. The AA's role was to ensure compliance with IBC objectives, respecting the CoC's decision-making authority. The approved plan binds the Corporate Debtor and stakeholders, facilitating the company's revival and management transition. The immediate implementation includes returning records to the Resolution Applicant or New Promoters and compliance with relevant laws. en-us Mon, 15 Apr 2019 00:00:00 +0530 Sat, 14 Dec 2019 10:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284869 The Adjudicating Authority (AA) approved the Resolution Plan submitted by Osian India for Aryavart Chemicals Private Limited, emphasizing adherence to Insolvency and Bankruptcy Code provisions. The plan, offering Rs. 6,10,61,280/-, addressed operational issues and financial restructuring, relying on internal accruals and family net worth for funding. The AA's role was to ensure compliance with IBC objectives, respecting the CoC's decision-making authority. The approved plan binds the Corporate Debtor and stakeholders, facilitating the company's revival and management transition. The immediate implementation includes returning records to the Resolution Applicant or New Promoters and compliance with relevant laws. Case-Laws Insolvency and Bankruptcy Mon, 15 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284869