https://www.taxtmi.com/caselaws?id=417305 The Tribunal approved the Resolution Plan and Scheme of Amalgamation under the IBC, 2016. The plan addressed creditor payments, exemptions sought by the Resolution Applicant, transfer of management to a new Board of Directors, and sought reliefs from various authorities. The Resolution Plan was found compliant with CIRP Regulations and IBC provisions. The plan was effective immediately, ending the moratorium, and becoming binding on all stakeholders. A monitoring committee was established to oversee implementation, and the RP was relieved of duties. The Resolution Applicant was directed to pursue further concessions from relevant authorities as required by law. en-us Tue, 04 Jan 2022 00:00:00 +0530 Thu, 20 Jan 2022 08:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417305 The Tribunal approved the Resolution Plan and Scheme of Amalgamation under the IBC, 2016. The plan addressed creditor payments, exemptions sought by the Resolution Applicant, transfer of management to a new Board of Directors, and sought reliefs from various authorities. The Resolution Plan was found compliant with CIRP Regulations and IBC provisions. The plan was effective immediately, ending the moratorium, and becoming binding on all stakeholders. A monitoring committee was established to oversee implementation, and the RP was relieved of duties. The Resolution Applicant was directed to pursue further concessions from relevant authorities as required by law. Case-Laws Insolvency and Bankruptcy Tue, 04 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417305