https://www.taxtmi.com/caselaws?id=284944 A resolution plan under the Insolvency and Bankruptcy Code was found compliant with the statutory framework, including the CIRP Regulations and eligibility requirements for the resolution applicant, because it addressed stakeholder payments, was stated to be feasible and viable, exceeded liquidation value, and included the applicant's eligibility declaration. After the committee of creditors approved the revised plan by the requisite majority, the adjudicating authority sanctioned it, noting no contravention of law. On approval, the plan became binding on the corporate debtor and all stakeholders, and the moratorium ceased with effect from the order date. en-us Tue, 26 Mar 2019 00:00:00 +0530 Wed, 18 Dec 2019 10:02:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284944 A resolution plan under the Insolvency and Bankruptcy Code was found compliant with the statutory framework, including the CIRP Regulations and eligibility requirements for the resolution applicant, because it addressed stakeholder payments, was stated to be feasible and viable, exceeded liquidation value, and included the applicant's eligibility declaration. After the committee of creditors approved the revised plan by the requisite majority, the adjudicating authority sanctioned it, noting no contravention of law. On approval, the plan became binding on the corporate debtor and all stakeholders, and the moratorium ceased with effect from the order date. Case-Laws Insolvency and Bankruptcy Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284944