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2021 (12) TMI 1361 - NATIONAL COMPANY LAW TRIBUNAL AHMEDABADApproval of resolution plan - section 30(6) read with section 31 and section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 39(4) of The Insolvency and Bankruptcy Board of India (Insolvency Process of Corporate Persons) Regulations, 2016 - HELD THAT:- The Resolution Plan filed with the Application meets the requirements of Section 30(2) of IB Code, 2016 and Regulations 37, 38, 38(1A) and 39 (4) of IBBI (CIRP) Regulations, 2016. An affidavit under section 29A has also been filed by the Resolution Applicant. The Resolution Professional has also certified that the Resolution Plan' approved by the CoC does not contravene any of the provisions of the law for the time being in force. The Compliance Certificate is placed on record. The Resolution Plan' has been approved by the CoC with a 95.23% voting share. It is satisfying that Resolution Plan is in compliance with all relevant provisions of the IB Code 2016, and CIRP Regulations. 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 Resolution Applicant - Application allowed.
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