https://www.taxtmi.com/manuals?id=3119 The corporate debtor must submit a base resolution plan within two days of the pre-packaged commencement date; the resolution professional presents it to the committee of creditors, which may allow revisions or, if the base plan is unapproved or impairs operational creditor claims, invite competing resolution applicants. Plans must conform to section 30 requirements. The committee evaluates and, by at least sixty-six percent of voting shares, may approve a plan for submission to the Adjudicating Authority after assessing feasibility, viability, distribution consistent with creditor priority and security interests; promoters may be required to dilute control where claims are impaired. The approved plan must be submitted to the Adjudicating Authority within ninety days. en-us Fri, 25 Aug 2023 17:56:00 +0530 Fri, 08 Dec 2023 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3119 The corporate debtor must submit a base resolution plan within two days of the pre-packaged commencement date; the resolution professional presents it to the committee of creditors, which may allow revisions or, if the base plan is unapproved or impairs operational creditor claims, invite competing resolution applicants. Plans must conform to section 30 requirements. The committee evaluates and, by at least sixty-six percent of voting shares, may approve a plan for submission to the Adjudicating Authority after assessing feasibility, viability, distribution consistent with creditor priority and security interests; promoters may be required to dilute control where claims are impaired. The approved plan must be submitted to the Adjudicating Authority within ninety days. Manuals IBC Fri, 25 Aug 2023 17:56:00 +0530 https://www.taxtmi.com/manuals?id=3119