Submission of resolution plan.

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....f operational creditors in such manner as may be specified by the Board which shall not be less than- (i) the amount to be paid to such creditors in the event of a liquidation of the corporate debtor under section 53; or (ii) the amount that would have been paid to such creditors, if the amount to be distributed under the resolution plan had been distributed in accordance with the order of priority in sub-section (1) of section 53, whichever is higher ^9[****]. Explanation 1.-For the removal of doubts, it is hereby clarified that a distribution in accordance with the provisions of this clause shall be fair and equitable to such creditors. Explanation 2.-For the purposes of this clause, it is here....

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.... hereby declared that the provisions of this sub-section as amended by the Insolvency and Bankruptcy Code (Amendment) Act, 2026, shall not apply to the corporate insolvency resolution process where any of the following acts have first occurred,- (i) the committee of creditors has approved a resolution plan under sub-section (4); (ii) the Adjudicating Authority has passed a liquidation order under sub-section (1) of section 33; or (iii) the committee of creditors has approved intimation to the Adjudicating Authority to initiate the liquidation under sub-section (2) of section 33, as the case may be, on and before the date of commencement of the Insolvency and Bankruptcy Code (Amendment) Act, 2026;] ....

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.... account the order of priority amongst creditors as laid down in sub-section (1) of section 53, including the priority and value of the security interest of a secured creditor] and such other requirements as may be specified by the Board: Provided that the committee of creditors shall not approve a resolution plan, submitted before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017(Ord. 7 of 2017), where the resolution applicant is ineligible under section 29A and may require the resolution professional to invite a fresh resolution plan where no other resolution plan is available with it: Provided further that where the resolution applicant referred to in the first proviso is ineligible under clause (c)....

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....f the Insolvency and Bankruptcy Code (Amendment) Act, 2018 before it was read as, "(4) The committee of creditors may approve a resolution plan by a vote of not less than seventy five per cent. of voting share of the financial creditors." 2. Inserted vide Section 23 of the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 w.e.f. 06-06-2018 3. Substituted vide Section 23 of the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 w.e.f. 06-06-2018 before it was read as "repayment" 4. Inserted vide Section 23 of the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 w.e.f. 06-06-2018 5. Substituted vide Section 23 of the Insolvency and Bankruptcy Code (Second ....