2024 (2) TMI 913

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....nkruptcy<br>[ Justice Ashok Bhushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellant : Mr. Abhijeet Surha, Sr. Advocate with Mr. Atul Sharma, Mr. Aditya Shukla, Advocates For the Respondent : Mr. Shwanshu Kumar, Ms. Aditi Sharma, Advocates ORDER ( Hybrid Mode ) Heard Learned Counsel for the Appellant as well as Counsel appearing for the Successful Resolution ....

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....roposes to pay only Rs 1000 to employees in 90 days after the approval of the Plan. The Resolution Plan is rejected as it does not satisfy the provisions of Section 31 (2) of IBC 2016 and Regulations 36 of the Act of the Code." 3. We, while hearing the Appeal on 09.01.2024, passed following order:- "09.01.2024: Issue notice. Learned counsel for the SRA accepts notice. He prays for and ....

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....the statutory dues of the Income Tax Department accordance with the terms of proposal for the Operational Creditor (Statutory Authority) as provided in the Resolution Plan. Accordingly, the answering respondent proposed to pay additional amount of not more than Rs. 1000/- which was as per the payment terms proposed for the Operational Creditor (Statutory Authority) in Clause 1.5 of the Resolution ....

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....case, we are of the view that the Resolution Professional may convene a meeting of the CoC for consideration of the proposal as contained in paragraphs 5 and 6 of the Affidavit of SRA as extracted above, as an Addendum to the resolution plan which was approved by the CoC. The Resolution Professional may place the Addendum for approval and make a fresh application for approval of the plan along wit....