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2020 (10) TMI 337 - Tri - Companies LawApproval of Resolution Plan - Section 31(1) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The parameters for approval of Resolution Plan are set out in Sections 30(2) and 31 of the IBC, 2016. The Resolution Plan under consideration has met with mandatory compliances. The "Resolution Plan" is hereby approved which shall be binding on the Corporate Debtor and its employees, members, creditors, guarantors and other stakeholders involved in the Resolution Plan including the Resolution Applicants - While approving the Resolution Plan, as mentioned above, it is clarified that the Resolution Applicants shall pursuant to the Resolution Plan approved under Section 31(1) of the I&B Code, 2016, obtain all the necessary approval as may be required under any law for the time being in force within a period of one year from the date of approval of the Resolution Plan by this authority or within such period as provided for in such law. Order of Moratorium shall cease to have effect - Resolution Plan approved.
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