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2019 (9) TMI 675 - Tri - Insolvency and BankruptcyApproval of Resolution Plan - default in repayment of Debt - funding of Resolution Plan - HELD THAT:- Resolution plan is approved subject to that the dissenting FC even though a related party shall be paid the principal amount due and as agreed before this Tribunal by the Resolution applicant before payment is made to the equity shareholders as contemplated under the resolution plan - Further in relation to the transactions as brought to the notice of this Tribunal by Ld. RP in CA No. 58 of 2018 cannot be easily brushed aside and if true cannot be also condoned and hence OBC being the sole financial creditor in the CoC and being part of the Monitoring Agency shall cause a detailed investigation to be made, transaction wise of the Corporate Debtor and bring to the notice of this Tribunal factoring the reply of the Corporate Debtor and all the respondents of any acts of the nature of transactions brought forth by the RP in the above said application. The implementing and supervision authority shall have also the authority to bring to the notice of this Tribunal any deviation from the resolution plan including in relation to the losses, which may have occasioned due to the conduct of the promotors of the Corporate Debtor prior to the initiation of the CIRP as against it - The moratorium imposed under Section 14 shall cease to have any effect henceforth.
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