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2022 (1) TMI 1381 - SCH - Insolvency and BankruptcyApproval of Resolution Plan - adjudicating authority dismissed the application filed by the appellant which was upheld by the appellate tribunal - HELD THAT:- As per Section 31 of the IPC, the Resolution Plan becomes final only after it is approved by the adjudicating authority - reliance placed in the case of GHANASHYAM MISHRA AND SONS PRIVATE LIMITED THROUGH THE AUTHORIZED SIGNATORY VERSUS EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED THROUGH THE DIRECTOR & ORS. [2021 (4) TMI 613 - SUPREME COURT] where it was held that After CoC approves the plan, the Adjudicating Authority is required to arrive at a subjective satisfaction, that the plan conforms to the requirements as are provided in subsection (2) of Section 30 of the I&B Code. Only thereafter, the Adjudicating Authority can grant its approval to the plan. Appeal dismissed.
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