https://www.taxtmi.com/acts?id=53993 Section 31 is amended to allow the Adjudicating Authority, on application by the resolution professional and with creditor approval, to first approve implementation of a resolution plan and later approve distribution. The Authority may call for rectification of defects before rejecting a plan and must pass orders within thirty days, recording reasons for delay. The amendment also protects associated licences and similar grants during their remaining term, and provides for extinguishment of pre-approval claims and bar on proceedings, subject to stated exceptions for promoters, guarantors, and persons with joint liability. en-us Tue, 07 Apr 2026 13:03:44 +0530 Tue, 07 Apr 2026 13:03:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53993 Section 31 is amended to allow the Adjudicating Authority, on application by the resolution professional and with creditor approval, to first approve implementation of a resolution plan and later approve distribution. The Authority may call for rectification of defects before rejecting a plan and must pass orders within thirty days, recording reasons for delay. The amendment also protects associated licences and similar grants during their remaining term, and provides for extinguishment of pre-approval claims and bar on proceedings, subject to stated exceptions for promoters, guarantors, and persons with joint liability. Act-Rules F. Acts / Amendment Acts Tue, 07 Apr 2026 13:03:44 +0530 https://www.taxtmi.com/acts?id=53993