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2018 (7) TMI 2107 - Tri - Insolvency and BankruptcyApproval of Resolution plan - CIRP process - Corporate Debtor committed default in paying loan instalment granted and disbursed to them - HELD THAT:- Part Il and Part IV of the plan deal with the mandatory requirements to be complied with. The provisions are made for payment of insolvency resolution process cost as required under section 30(2)(a) of I&B Code. The provision has also been made for payment of debt of operational creditors (including employees and workmen) subject to provision of section 53 of I&B code. In Schedule 2 of Part IV of the plan, the details are given as to how the affairs of the Corporate Debtor would be managed. It is also stated as to what manner the plan will be implemented by the CRPS and the Resolution Applicant. I also find that the plan does not contravene any provision of law. The plan has been approved by the COC by 100% voting shares. There are no infirmity in this plan. The Resolution Professional has certified that the plan meets all requirements of the Code and the Regulations as contemplated in the Regulation 37(4). The resolution plan of Liberty I-louse Group Pte Ltd. as approved by the COC under sub-section (4) of ection 30 of I&B Code meets all requirements as stated under sub-section of section 30 of I&B Code - Resolution Plan approved.
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