https://www.taxtmi.com/caselaws?id=287895 The Tribunal approved the Resolution Plan submitted by Karatagi Refineries Private Limited for M/s. ILC Industries Limited. The Plan was found compliant with the Insolvency and Bankruptcy Code (IBC) and related regulations, providing for payment to creditors and stakeholders. Management control was transferred to the Resolution Applicant, with a detailed implementation and supervision mechanism outlined. Various reliefs and concessions were granted, and the Resolution Plan was deemed binding on all stakeholders. The moratorium was lifted, and the Resolution Professional was directed to transfer records to the Board. en-us Sun, 13 Jan 2019 00:00:00 +0530 Fri, 08 May 2020 10:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287895 The Tribunal approved the Resolution Plan submitted by Karatagi Refineries Private Limited for M/s. ILC Industries Limited. The Plan was found compliant with the Insolvency and Bankruptcy Code (IBC) and related regulations, providing for payment to creditors and stakeholders. Management control was transferred to the Resolution Applicant, with a detailed implementation and supervision mechanism outlined. Various reliefs and concessions were granted, and the Resolution Plan was deemed binding on all stakeholders. The moratorium was lifted, and the Resolution Professional was directed to transfer records to the Board. Case-Laws Insolvency and Bankruptcy Sun, 13 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287895