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Approval of resolution plan

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Full Text of the Document

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....d therein, meets the requirements as referred to in sub-section (2) of section 30, it shall, within thirty days of the receipt of such resolution plan, by order approve the resolution plan: Provided that the Adjudicating Authority shall, before passing an order for approval of a resolution plan under this sub-section, satisfy itself that the resolution plan has provisions for its effective imple....

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....of section 54K, does not result in the change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor, the Adjudicating Authority shall pass an order - (a) rejecting such resolution plan; (b) terminating the pre-packaged insolvency resolution process and passing a liquidation order in respect of the corpora....