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2019 (5) TMI 1892 - NATIONAL COMPANY LAW TRIBUNAL — PRINCIPAL BENCH—NEW DELHIApproval of Resolution Plan - sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- A perusal of regulation 38 would clearly show that by virtue of mandatory contents of the resolution plan in relation to sections 30 and 31 of the Code the requirement of regulation 38 stand fulfilled. Even the requirement of regulation 39 has been satisfied as the RP has submitted that the resolution plan of H1 resolution applicant as approved by the CoC to this Tribunal along with the compliance certificate in form H as per the requirements of regulation 39(4) of the CIRP Regulations meet all requirements of the Code and the CIRP Regulations and that the resolution plan has been duly approved by the CoC. There is no scope for argument left that shareholder, or parties to joint venture agreement or anyone holding similar document need to accord sanction in view of the provisions of regulation 39(6) of the CIRP Regulations. The CoC approved resolution plan of H1 resolution applicant-G. P. Global Energy P. Ltd. is approved - application allowed.
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