https://www.taxtmi.com/caselaws?id=397034 The Tribunal approved the resolution plan filed under section 30(6) of the Insolvency and Bankruptcy Code, 2016, as it met all requirements. The plan proposed a financial bid exceeding the liquidation value, ensuring higher recovery for creditors. The resolution plan's feasibility and viability were confirmed by the Committee of Creditors, leading to the approval. The Tribunal directed the resolution professional to hand over the corporate debtor to the resolution applicant, submit all relevant records to the Insolvency and Bankruptcy Board of India, and file a compliance report. The approval rendered the resolution plan binding on all relevant parties, with specific timelines and requirements outlined for implementation. en-us Thu, 04 Jun 2020 00:00:00 +0530 Fri, 31 Jul 2020 14:08:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397034 The Tribunal approved the resolution plan filed under section 30(6) of the Insolvency and Bankruptcy Code, 2016, as it met all requirements. The plan proposed a financial bid exceeding the liquidation value, ensuring higher recovery for creditors. The resolution plan's feasibility and viability were confirmed by the Committee of Creditors, leading to the approval. The Tribunal directed the resolution professional to hand over the corporate debtor to the resolution applicant, submit all relevant records to the Insolvency and Bankruptcy Board of India, and file a compliance report. The approval rendered the resolution plan binding on all relevant parties, with specific timelines and requirements outlined for implementation. Case-Laws Insolvency and Bankruptcy Thu, 04 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397034