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Resolution Plan Approval Not Tied to Liquidation Value per Insolvency and Bankruptcy Code, Regulation Clause 35.

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....Approval of Resolution Plan which is lesser than liquidation value - No provision in the Code or Regulations has been brought to our notice under which the bid of any Resolution Applicant has to match liquidation value arrived at in the manner provided in Clause 35 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.....

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