https://www.taxtmi.com/caselaws?id=402913 The Tribunal approved the resolution plan for the corporate debtor, Maruti Cotex Ltd., submitted by the SSCPL Consortium, with modifications. The plan included payments totaling Rs. 77.11 crores to creditors, prioritized payments to operational creditors, and ensured compliance with applicable laws. The CoC approved the plan with a 100% vote, meeting all legal requirements. The resolution applicant's requests for reliefs were denied, and post-approval, the applicant must comply with all laws and take over the debtor's assets and liabilities. The resolution plan was deemed binding on all parties involved, and the application was allowed and disposed of accordingly. en-us Thu, 02 Jul 2020 00:00:00 +0530 Sat, 30 Jan 2021 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402913 The Tribunal approved the resolution plan for the corporate debtor, Maruti Cotex Ltd., submitted by the SSCPL Consortium, with modifications. The plan included payments totaling Rs. 77.11 crores to creditors, prioritized payments to operational creditors, and ensured compliance with applicable laws. The CoC approved the plan with a 100% vote, meeting all legal requirements. The resolution applicant's requests for reliefs were denied, and post-approval, the applicant must comply with all laws and take over the debtor's assets and liabilities. The resolution plan was deemed binding on all parties involved, and the application was allowed and disposed of accordingly. Case-Laws Insolvency and Bankruptcy Thu, 02 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402913