Unanimous Approval: Univastu India’s Resolution Plan Accepted

Jitendra Palande Vs Univastu India Ltd (NCLT Mumbai) NCLT Mumbai held that the Resolution Plan submitted by Univastu India Ltd. which was approved unanimously by the members of the Committee of Creditors (CoC) and which meets the requirements of law deserved to be approved. Facts- The Interlocutory Application was filed under Section 30(6) and Section 31, of the Insolvency and Bankruptcy Code, 2016 by the Resolution Professional (hereinafter referred as, seeking approval of the Resolution Plan, submitted by the Resolution Applicant – Univastu India Ltd., which was approved unanimously by...