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Liquidation Order Validity and Resolution Plan Rejection Upheld in Corporate Insolvency Resolution Process.

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Full Text of the Document

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....CIRP - Validity of order of liquidation - Rejection of resolution plan - eligibility criteria - terms and conditions as stipulated in RFRP are required to be treated valid and legal binding terms and conditions which has been stipulated by the CoC after fair deal of deliberations. The framing of such terms and conditions, evaluation of the Resolution Plan against such matrix is considered to be entirely within the commercial wisdom domain of the CoC. - AT....

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