https://www.taxtmi.com/caselaws?id=427735 The Tribunal approved the resolution plan for the Corporate Debtor, M/s NRS Projects Private Limited, in compliance with IBC provisions. The plan, submitted by a Promoter and approved by the COC with 73.03% votes, met the requirements of Sections 30(2) and 31 of IBC. Despite opposition from dissenting Financial Creditors, the plan ensured equitable debt payments and established a Management Committee for post-approval operations. The Promoter's eligibility under Section 29A of IBC was upheld, allowing the plan's acceptance. The Tribunal lifted the moratorium, directed notification of relevant parties, and forwarded all records to the IBBI for documentation. en-us Tue, 30 Aug 2022 00:00:00 +0530 Fri, 16 Sep 2022 08:12:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427735 The Tribunal approved the resolution plan for the Corporate Debtor, M/s NRS Projects Private Limited, in compliance with IBC provisions. The plan, submitted by a Promoter and approved by the COC with 73.03% votes, met the requirements of Sections 30(2) and 31 of IBC. Despite opposition from dissenting Financial Creditors, the plan ensured equitable debt payments and established a Management Committee for post-approval operations. The Promoter's eligibility under Section 29A of IBC was upheld, allowing the plan's acceptance. The Tribunal lifted the moratorium, directed notification of relevant parties, and forwarded all records to the IBBI for documentation. Case-Laws Insolvency and Bankruptcy Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427735