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2021 (12) TMI 1154 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHApproval of Resolution Plan - Section 30(6) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is noted that CoC in its 18th meeting held on 13.01.2021 with 100% voting right approved the Resolution Plan submitted by the Resolution Applicant. It is also noted that Resolution Applicant is not a related party of the Corporate Debtor. Resolution Applicant has filed an affidavit dated 25.09.2020 regarding its eligibility to submit a Resolution Plan under Section 29A of IBC, 2016. Resolution Applicant has also provided the performance security amounting to ₹ 1,00,00,000 crore as a Bank Guarantee. All contents of the Resolution Plan and all documents/compliance certificates as required under Section 30(2) of IBC, 2016 read with Regulations 36 to 39 of CIRP Regulations, 2016 which have been placed on record is perused. The Resolution Plan complies with all these provisions. The total outstanding debt claims by all stakeholders stand at ₹ 11, 209.74 Lakhs and Resolution Applicant has admitted claims totalling ₹ 10,927.29 Lakhs and amount provided under the plan is 1,019.40 which amounts to 9.09%of total outstanding debt. The Resolution Plan so approved can be successfully implemented - Resolution Plan approved - application allowed.
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