https://www.taxtmi.com/caselaws?id=295008 The Tribunal approved the Resolution Plan submitted by M/s. Sai Baba Business Solutions Pvt. Ltd. under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, with 89.51% voting share in favor. Despite reconsideration, Mr. Gagan Bothra's Expression of Interest and Resolution Plan were rejected due to lack of clarity. The Tribunal directed the treatment of unsecured creditors' claims at par, resulting in a revised payout percentage. The Resolution Plan's implementation was detailed, including the formation of an Interim Monitoring Committee. The Tribunal granted the reliefs sought by the Resolution Applicant, finding the Plan compliant with the relevant regulations. en-us Tue, 27 Aug 2019 00:00:00 +0530 Sat, 15 May 2021 08:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295008 The Tribunal approved the Resolution Plan submitted by M/s. Sai Baba Business Solutions Pvt. Ltd. under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, with 89.51% voting share in favor. Despite reconsideration, Mr. Gagan Bothra's Expression of Interest and Resolution Plan were rejected due to lack of clarity. The Tribunal directed the treatment of unsecured creditors' claims at par, resulting in a revised payout percentage. The Resolution Plan's implementation was detailed, including the formation of an Interim Monitoring Committee. The Tribunal granted the reliefs sought by the Resolution Applicant, finding the Plan compliant with the relevant regulations. Case-Laws Insolvency and Bankruptcy Tue, 27 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295008