https://www.taxtmi.com/caselaws?id=302966 A resolution plan approved by the Committee of Creditors with the requisite majority, and certified by the Resolution Professional as compliant with section 30(2) of the Insolvency and Bankruptcy Code and the CIRP Regulations, was sanctioned because it treated secured, unsecured and operational creditors, covered insolvency resolution costs, and was found feasible and viable. Once approved under section 31, the plan became binding on the corporate debtor and all stakeholders, and the order granted reliefs to the extent recorded, including extinguishment of pre-CIRP liabilities, contingent or unconfirmed dues, and pre-plan encumbrances, while preserving the role of competent authorities for statutory permissions and approvals. The moratorium ceased and the CIRP came to an end in terms of the approved plan. en-us Mon, 13 Dec 2021 00:00:00 +0530 Sun, 26 Jun 2022 21:59:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302966 A resolution plan approved by the Committee of Creditors with the requisite majority, and certified by the Resolution Professional as compliant with section 30(2) of the Insolvency and Bankruptcy Code and the CIRP Regulations, was sanctioned because it treated secured, unsecured and operational creditors, covered insolvency resolution costs, and was found feasible and viable. Once approved under section 31, the plan became binding on the corporate debtor and all stakeholders, and the order granted reliefs to the extent recorded, including extinguishment of pre-CIRP liabilities, contingent or unconfirmed dues, and pre-plan encumbrances, while preserving the role of competent authorities for statutory permissions and approvals. The moratorium ceased and the CIRP came to an end in terms of the approved plan. Case-Laws Insolvency and Bankruptcy Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302966