NCLT JUDGEMENT ON REGULATION 36(B)(4A), 38(1), 38(1A), 38(2), 38(3), 39(4) OF THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATION, 2016, SECTION 73 OF THE INDIAN CONTRACT ACT, 1872, RULE 6 OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016 AND SECTION 5(24), 9, 14, 15, 29(A), 30, 30(1), 30(2), 30(2)(A), 30(2)(B), 30(2)(C), 30(2)(D), 30(2)(E), 30(4), 30(6), 31, 31(1) OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016

NAME		MOBILE NO.	E-MAIL I’D
RANJEET KUMAR		8383098478, 9667769795	rk@courtkutchehry.com
JAI THAKUR		8130703334, 9355723300	jai.thakur@courtkutchehry.com
RAJEEV RANJAN		9334553249	rajiv.ranjan@courtkutchehry.com
ASHOK MISHRA		9718327746	sales@courtkutchehry.com
RAVI KUMAR			ravi.singh@courtkutchehry.com

In Re_ Micromax Energy Limited Vs., (2020) 06 NCLT CK 0017

NCLT allowed the application filed by the Resolution Professional for approval of the Resolution Plan under Section 31(1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as IBC, 2016). The Resolution Plan has already been approved by the Committee of Creditors (CoC). While allowing the application NCLT held that the parameters for approval of Resolution Plan are set out in Sections 30(2) and 31 of the IBC, 2016. The Resolution Plan under consideration has met with mandatory compliance. In view of the above, the "Resolution Plan  is hereby approved which shall be binding on the Corporate Debtor and its employees, members, creditors, guarantors and other stakeholders involved in the Resolution Plan including the Resolution Applicants.