https://www.taxtmi.com/caselaws?id=416388 The resolution plan was examined under Section 30(2) of the Insolvency and Bankruptcy Code, 2016 and the applicable CIRP Regulations, and was found compliant. The resolution applicant was eligible, not a related party, and had furnished the required performance guarantee. The committee of creditors approved the revised plan unanimously. The Adjudicating Authority recorded that the plan provided for resolution process costs, implementation machinery, and treatment of stakeholders, and was capable of successful implementation. Approval also carried the usual consequences, including cessation of moratorium, transmission of records to the insolvency regulator, and limited reliefs and concessions within the Authority's competence. en-us Mon, 13 Dec 2021 00:00:00 +0530 Tue, 28 Dec 2021 08:50:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416388 The resolution plan was examined under Section 30(2) of the Insolvency and Bankruptcy Code, 2016 and the applicable CIRP Regulations, and was found compliant. The resolution applicant was eligible, not a related party, and had furnished the required performance guarantee. The committee of creditors approved the revised plan unanimously. The Adjudicating Authority recorded that the plan provided for resolution process costs, implementation machinery, and treatment of stakeholders, and was capable of successful implementation. Approval also carried the usual consequences, including cessation of moratorium, transmission of records to the insolvency regulator, and limited reliefs and concessions within the Authority's competence. Case-Laws Insolvency and Bankruptcy Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416388