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2018 (9) TMI 2028 - Tri - Insolvency and BankruptcyApproval of Resolution Plan - Section 31 (1) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The resolution plan submitted by the Resolution Applicant Ingen Capital which was recommended by the CoC pursuant to the meeting held on 04.06.2018 and voting concluded on 21.06.2018 stands approved - The Resolution professional in consultation with COC will ensure that the Resolution Plan complies with section 30(2)(e) of the IBC, 2016 especially regarding compliance with FDI norms and provisions of FEMA and the regulations made there under. The Resolution applicants are directed to adhere to the provisions of Section 53 of the IBC 2016 duly following the procedure for "water fall" in relation to the amounts brought in by the Resolution Applicants - Application disposed off.
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