https://www.taxtmi.com/caselaws?id=465173 NCLT (Hyd) approved the resolution plan for the corporate debtor under ss.30(2), 30(4), 30(6) and 31 of the IBC, holding that all statutory conditions and CIRP Regulations 37, 38, 38(1A) and 39(4) were satisfied. The Tribunal held that a promoter-shareholder holding 16% equity was ineligible under s.29A(c) and could not be made an integral part of the plan, though it could act purely as operator without management control. Differential treatment of certain lessor-creditors (including governmental entities) was upheld as a permissible commercial decision of the CoC, consistent with the objectives of the Code. Relying on SC precedents, NCLT confined itself to limited judicial review and made the plan binding on all stakeholders. The application was disposed of. en-us Fri, 07 Feb 2020 00:00:00 +0530 Tue, 02 Dec 2025 17:19:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465173 NCLT (Hyd) approved the resolution plan for the corporate debtor under ss.30(2), 30(4), 30(6) and 31 of the IBC, holding that all statutory conditions and CIRP Regulations 37, 38, 38(1A) and 39(4) were satisfied. The Tribunal held that a promoter-shareholder holding 16% equity was ineligible under s.29A(c) and could not be made an integral part of the plan, though it could act purely as operator without management control. Differential treatment of certain lessor-creditors (including governmental entities) was upheld as a permissible commercial decision of the CoC, consistent with the objectives of the Code. Relying on SC precedents, NCLT confined itself to limited judicial review and made the plan binding on all stakeholders. The application was disposed of. Case-Laws IBC Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465173