Conversion of creditor-initiated insolvency resolution process to corporate insolvency resolution process
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.... (a) does not receive a resolution plan for approval, within the period stipulated under section 58D; (b) is satisfied that the corporate debtor or its personnel have failed to assist or cooperate with the resolution professional; or (c) rejects the resolution plan under sub-section (2) of section 58J read with sub-section (2) of section 31, it shall, by an order,-- ....
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....esolution process, if any, shall be included as part of insolvency resolution process costs for the purposes of the corporate insolvency resolution process of the corporate debtor. (2) Where the committee of creditors, at any time during the creditor-initiated insolvency resolution process period, by a vote of not less than sixty-six per cent. of the voting share, resolves to convert the credit....
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....lvency resolution process; (b) such order shall be deemed to be an order of admission of an application under section 7 and the financial creditor who initiated the creditor-initiated insolvency resolution process under section 58B, shall be considered as the applicant for that purpose; and (c) for the purposes of sections 43, 46 and 50, the references to "initiation date and end....
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