https://www.taxtmi.com/caselaws?id=471558 Resolution-plan approval under the Insolvency and Bankruptcy Code is confined to verifying compliance with the statutory conditions in Sections 30(2) and 31 after approval by the requisite Committee of Creditors voting share. The plan addressed insolvency-resolution costs, operational-creditor payments, post-approval management, implementation and supervision, and met the applicable requirements of Regulations 37, 38 and 39(4) of the Insolvency Resolution Process Regulations. Communication of the approval order to group-company stakeholders did not make implementation conditional on approval of their separate resolution plans. The plan was therefore treated as compliant and approved under Section 31(1). en-us Tue, 19 Dec 2023 00:00:00 +0530 Wed, 09 Sep 2026 11:23:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471558 Resolution-plan approval under the Insolvency and Bankruptcy Code is confined to verifying compliance with the statutory conditions in Sections 30(2) and 31 after approval by the requisite Committee of Creditors voting share. The plan addressed insolvency-resolution costs, operational-creditor payments, post-approval management, implementation and supervision, and met the applicable requirements of Regulations 37, 38 and 39(4) of the Insolvency Resolution Process Regulations. Communication of the approval order to group-company stakeholders did not make implementation conditional on approval of their separate resolution plans. The plan was therefore treated as compliant and approved under Section 31(1). Case-Laws IBC Tue, 19 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471558