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2021 (2) TMI 255 - Tri - Insolvency and BankruptcySeeking approval of the Resolution Plan - Section 30(6) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Resolution Applicants on the persuasion of this Bench agreed to increase the payment from ₹ 2,00,000/- to ₹ 10,00,000/- against the actual liability with respect to workmen & employees. Accordingly, the Representative of Resolution Applicants, during the hearing, agreed to increase the amount payable to workmen & employees to ₹ 10,00,000 (from ₹ 2,00,000). The Resolution Applicant has sought certain reliefs, concessions, waivers. We however are not inclined to grant such concessions or waivers. The Resolution Applicant needs to approach the authorities concerned for permits, if required (such as licenses, renewal of license, electricity connection etc.), and same will be considered by the authorities in accordance with law. The instant Resolution Plan meets the requirements of Section 30(2) of the Code and Regulations 37, 38, 38(1A) and 39(4) of the Regulations. The Resolution Plan is not in contravention of any of the provisions of Section 29A of the Code and is in accordance with law - Application allowed.
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