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2021 (1) TMI 1133 - Tri - Insolvency and BankruptcyApproval of Resolution Plan of the Corporate Debtor as approved by Committee of Creditors - compliance with all the requirements of Section 30(2) of IBC, 2016 and r.w. relevant Regulations - Resolution Plan filed before the expiry period of CIRP - HELD THAT:- The Resolution Plan' filed with the Application meets the requirements of Section 30(2) of I&B Code, 2016 and Regulations 37, 38, 38 (1A) and 39 (4) of IBBI (CIRP) Regulations, 2016. The 'Resolution Plan' is also not in contravention of any of the provisions of Section 29A. The RP has also certified that the Resolution Plan t approved by the CoC does not contravene any of the provisions of the law for the time being in force. The Compliance Certificate is placed on record. The 'Resolution Plan' has been approved by the CoC with 100% voting share. The Resolution Plan contains various reliefs and concessions as per annexure -4 of the said Resolution Plan. Certain reliefs have been granted specifically. Hence, general exemption granted now is in addition to those reliefs. The prayers as regard to various reliefs/ concessions sought by the Resolution Applicant is approved subject to condition that such grant/ approval is in accordance with the scheme and provisions of Insolvency & Bankruptcy Code, 2016 and CIRP Regulations made there-under. The Resolution Applicant of the corporate debtor will have all liberty to approach or may approach the concerned Statutory/ Competent Authority for any concession, waiver or exemption as per the applicable laws - the resolution plan is approved - approved 'Resolution Plan' shall become effective from the date of passing of this order - application allowed.
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