Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2018 (7) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (7) TMI 2263 - NATIONAL COMPANY LAW TRIBUNAL MUMBAISeeking approval of the final resolution plan - Section 31 (1) of IBC - HELD THAT:- On perusal of this entire resolution plan, this Bench hereby noticed that this resolution plan has provided for payment of insolvency resolution process costs in the manner specified by the Board in priority to the repayment of the other debts of the Corporate Debtor, provided for the repayment of debts of the operational creditors as per the waterfall mechanism mentioned under Section 53 of the Code, provided for the management of the affairs of the corporate Debtor after the approval of the Resolution plan, provided plan for payment to the creditors as mentioned in the resolution plan and this plan is not in contravention to any of the provisions of law for the time being in force with an undertaking that this plan will remain in conformity with the other requirements as specified by the Board. Application disposed off.
|