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2019 (4) TMI 1869 - Tri - Insolvency and BankruptcyApproval of Resolution Plan - section 30(6) of I&B Code - HELD THAT:- It is a peculiar situation in the present case where a resolution applicant is before this Adjudicating Authority offering better value to the Corporate Debtor, but this Adjudicating Authority cannot send the approved resolution plan back to the CoC for reconsideration along with apparently better Resolution Plan on two counts firstly, the resolution applicant has come after the submission of the approved resolution plan to the Adjudicating Authority, and secondly, the CoC or RP has not sought any relief to recall the approved resolution plan and for allowing them to reconsider the approved resolution plan along with the new resolution plan offering better value. The power of this bench to suo moto direct the CoC to consider the new resolution plan and reconsider the already approved resolution plan is confined by the scheme of the I&B Code. The Resolution plan is approved - moratorium declared.
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