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Approval of resolution plan.

Regulation 39 - Regulation - RESOLUTION PLAN - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016 - Regulation 39 - 39. 1[(1) A resolution applicant shall submit resolution plan(s) prepare .....

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solution plans which comply with the requirements of the Code and regulations made thereunder along with the details of following transactions, if any, observed, found or determined by him:- (a) preferential transactions under section 43; (b) underva .....

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approve any resolution plan with such modifications as it deems fit. 3[(3A) The committee shall, while approving the resolution plan under sub-section (4) of section (30), specify the amounts payable from resources under the resolution plan for the .....

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nder section 12 for the completion of the corporate insolvency resolution process, with the certification that- (a) the contents of the resolution plan meet all the requirements of the Code and the Regulations; and (b) the resolution plan has been ap .....

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l forthwith send a copy of the order of the Adjudicating Authority approving or rejecting a resolution plan to the participants and the resolution applicant. (6) A provision in a resolution plan which would otherwise require the consent of the member .....

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ng that such consent has not been obtained. (7) No proceedings shall be initiated against the interim resolution professional or the resolution professional, as the case may be, for any actions of the corporate debtor, prior to the insolvency commenc .....

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er seeking the assistance of the local district administration in implementing the terms of a resolution plan. ******************** Notes:- 1. Substituted vide Notification No. IBBI/2017-18/GN/REG22. Dated 31-12-2017, before it was read as, "(1) .....

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