Resolution plan submitted by M/s. GCCL Infrastructure and Projects Limited is approved

In re GCCL Infrastructure and Projects Limited (NCLT Ahmedabad)

NCLT Ahmedabad approved the resolution plan submitted by M/s. GCCL Infrastructure and Projects Limited (Corporate Debtor) as resolution plan has provisions of its effective implementation.

Facts- The present interlocutory application was filed on behalf of Resolution professional (RP) of GCCL Infrastructure and Projects Limited, u/s. 54K of the Insolvency & Bankruptcy Code, 2016 [IBC] read with Regulation 44 and 45 of the IBBI (Pre-Package Insolvency Resolution Process) Regulations, 2021 (PPIRP Regulations) for the approval of the Resolution plan submitted by the GCCL Infrastructure and Projects Lim-ited being successful resolution applicant [SRA] as approved by the Committee of Creditors under sub-section 12(4) under Section 54(L) of the IBC.

Conclusion- Held that the application filed under Section 54K has been considered, we are satisfied that the resolution plan has provisions for its effective implementation. We approve the Resolution Plan sub-mitted by the Corporate Debtor.

FULL TEXT OF THE NCLAT JUDGMENT/ORDER

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