NCLT accepts Resolution Plan of V Hotels Ltd.: Meeting IBC Code & CIRP Regulations

Anish Niranjan Nanavaty Vs Asset Reconstruction Company Limited (NCLT Mumbai) Application accepted as Resolution Plan met the requirements of Section 30(2) of the IBC Code and the Regulations 37, 38, 38(1A) and 39(4) of the CIRP Regulations Conclusion: Resolution Plan met the requirements of Section 30(2) of the Code and the Regulations 37, 38, 38(1A) and 39(4) of the CIRP Regulations. The Resolution Plan was not in contravention of any of the provisions of Section 29A of the Code and was in accordance with law. It should be binding on the Corporate Debtor, its employees, members, creditors in...