Resolution Plan became binding once approved by COC with requisite majortiy and compliant with sec. 30(2) of IBC

Amritvani Exim Pvt Ltd Vs Ajanta offset and Packaging Ltd. (NCLT Delhi) Conclusion: Resolution Plan for corporate debtor (Ajanta Offset and Packaging Limited) was approved under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, holding that it complied with all statutory requirements and was duly approved by the CoC. Accordingly, the plan was binding on all stakeholders, and the moratorium stood lifted. Held: The present interlocutory application was moved on behalf of Mr. Satya, Resolution Professional (“RP” / “Applicant”) of M/s Ajanta Offset and Packaging Limited under the ...