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2019 (11) TMI 1414 - NATIONAL COMPANY LAW TRIBUNAL, KOLKATA BENCHApproval of Resolution Plan of the Corporate Debtor approved by the CoC - HELD THAT:- The RP complies with all the provisions of the Insolvency & Bankruptcy Code, 2016 and the CIRP Regulations, 2016 and does not contravene any of the provisions of the law, for the time being in force. The affidavit, in compliance of Section 29(A) of the Code, has also been submitted by the successful bidder, Fortis Chemicals Ltd., in compliance of Section 30(1) of the Code. The corporate debtor company was not a going concern when the CIRP has been initiated. As per the report it is understood that the successful resolution applicant has undertaken to run the plant within 6 months from the date of approval of the resolution plan by this AA after taking immediate steps for repair and maintenance of plant. There is no justifiable reason to interfere with the selection of the Resolution Applicant by the CoC with majority vote share - the resolution plan of the corporate debtor approved by the CoC by 95.15% vote share is liable to be approved.
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