https://www.taxtmi.com/caselaws?id=302264 The Tribunal approved the resolution plan submitted by "NCIRCLE EXIM LLP" under Sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code. Despite objections raised by the Operational Creditor, the plan was deemed compliant with the IBC and CIRP Regulations. The Tribunal upheld the commercial wisdom of the Committee of Creditors, stating it was not subject to judicial review. The resolution plan was found equitable towards all stakeholders, meeting legal requirements. The plan was approved with 100% voting rights, binding on all parties, and the moratorium order was lifted, with pending applications deemed infructuous. en-us Wed, 17 Mar 2021 00:00:00 +0530 Thu, 12 May 2022 18:37:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302264 The Tribunal approved the resolution plan submitted by "NCIRCLE EXIM LLP" under Sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code. Despite objections raised by the Operational Creditor, the plan was deemed compliant with the IBC and CIRP Regulations. The Tribunal upheld the commercial wisdom of the Committee of Creditors, stating it was not subject to judicial review. The resolution plan was found equitable towards all stakeholders, meeting legal requirements. The plan was approved with 100% voting rights, binding on all parties, and the moratorium order was lifted, with pending applications deemed infructuous. Case-Laws Insolvency and Bankruptcy Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302264