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2018 (9) TMI 429 - NATIONAL COMPANY LAW TRIBUNAL, KOLKATAInitiating Corporate Insolvency Resolution Process - Approval of resolution plan - Held that:- The decision of the ARCIL leads to certain shadow of doubts behind the rejection of the plan of the said applicant. However, this Bench power to interfere with the statutory right of the CoC to either approve or reject a resolution plan by a vote of not Les than 75% of voting share of the financial creditors I am liable to approve the resolution plan which was approved with 100% voting share and meets the requirements of sub section (2) of section 30 of the I&B Code. In view of the above, and upon finding that none of the objections raised by any of the objectors against the Resolution Plan submitted by CP Ispat Private Limited stand proved with supporting evidence, it appears to me that the resolution plan of CP Ispat Pvt. Ltd is to be approved as per Sub-Section (1) of Section 31 of the I&B Code 2016. Accordingly, the Resolution Plan submitted by CP Ispat Private Limited is hereby approved.
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