Resolution Plan Validity Affirmed: Only CIRP Participants Eligible, Per Section 31(1) of Insolvency and Bankruptcy Code.

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....Validity of Resolution Plan as approved - Expression fo Interest - application of a person who has not participated in CIRP - eligibility criteria for the prospective Resolution Applicants - Section 31(1) of the Code lays down in clear terms that for final approval of a Resolution Plan, the Adjudicating Authority has to be satisfied that the requirement of Sub-Section (2) of Section 30 of the Code has been complied with. The proviso to Section 31(1) of the Code stipulates the other point on which an Adjudicating Authority has to be satisfied. - This Tribunal finds no reason to entertain this Application - Tri....