https://www.taxtmi.com/caselaws?id=293144 The Tribunal approved the resolution plan submitted by Kamla Industrial Park Limited (KIPL) for Metallica Industries, a Corporate Debtor, under section 30(6) of the Insolvency and Bankruptcy Code. The plan involved acquiring 100% equity ownership, extinguishing existing shareholders' interests, and making payments to various creditors. The objections by claimants, suspended director, guarantor, and erstwhile promoter were rejected. Miscellaneous applications were disposed of accordingly. The approved plan, with modifications, was deemed binding on all stakeholders, and the Resolution Professional was directed to submit all records to the IBBI. en-us Wed, 16 Oct 2019 00:00:00 +0530 Tue, 26 Jan 2021 16:08:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293144 The Tribunal approved the resolution plan submitted by Kamla Industrial Park Limited (KIPL) for Metallica Industries, a Corporate Debtor, under section 30(6) of the Insolvency and Bankruptcy Code. The plan involved acquiring 100% equity ownership, extinguishing existing shareholders' interests, and making payments to various creditors. The objections by claimants, suspended director, guarantor, and erstwhile promoter were rejected. Miscellaneous applications were disposed of accordingly. The approved plan, with modifications, was deemed binding on all stakeholders, and the Resolution Professional was directed to submit all records to the IBBI. Case-Laws Insolvency and Bankruptcy Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293144