https://www.taxtmi.com/caselaws?id=285674 The Tribunal approved the Resolution Plan under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, with modifications. The plan submitted by RHIL jointly with MIL was favored by 77.68% of the Committee of Creditors, involving payments to creditors, plant refurbishment, working capital, and process costs. Dissenting financial creditors were entitled to liquidation value. The approved plan included financial and capital restructuring, payment commitments, and business continuity. A Supervision Committee was to oversee the plan's implementation, with new management taking over the Corporate Debtor's operations. The Resolution Plan was binding, emphasizing detailed examination and satisfaction recording, effective immediately. en-us Thu, 19 Apr 2018 00:00:00 +0530 Tue, 18 Apr 2023 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285674 The Tribunal approved the Resolution Plan under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, with modifications. The plan submitted by RHIL jointly with MIL was favored by 77.68% of the Committee of Creditors, involving payments to creditors, plant refurbishment, working capital, and process costs. Dissenting financial creditors were entitled to liquidation value. The approved plan included financial and capital restructuring, payment commitments, and business continuity. A Supervision Committee was to oversee the plan's implementation, with new management taking over the Corporate Debtor's operations. The Resolution Plan was binding, emphasizing detailed examination and satisfaction recording, effective immediately. Case-Laws Insolvency and Bankruptcy Thu, 19 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285674