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2022 (8) TMI 763 - Tri - Insolvency and BankruptcySeeking approval of the Resolution Plan - Section 30, 31 and other applicable provisions of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as Code) read with Regulation 39 of IBBI (Insolvency Resolution Process for Corporate Persons), 2016 - HELD THAT:- It is noted that all requirements provided under Section 30(2) of IBC, 2016 and Regulation 36 to 39 of CIRP Regulations, 2016 have been complied with. It is also found that the Resolution Plan addresses the key challenges and trends in industries, implementation schedule and monitoring of the resolution plan and also contains measures to run the Corporate Debtor in future It is noted from records of the matter that application bearing IA 613 of 2021 filed by the resolution professional under Section 43 & 66 read with Section 25(2)(J) and any other applicable provision of the Insolvency and Bankruptcy Code, 2016 for seeking appropriate directions for avoidance of certain transactions entered by the corporate debtor and consequential directions, are pending before this Adjudicating Authority listed on 28.07.2022. If any amount is realized on disposal of the above pending application, the same shall be distributed among the creditors as per provisions of section 53 of the Code. The Resolution Plan is approved - Application allowed.
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