2022 (1) TMI 1231 - Tri - Insolvency and Bankruptcy

Seeking permission to submit the resolution plan to RP to enable CoC to consider the same - HELD THAT - The CoC is the final Authority as on date to decide about the discretion and decision with respect to resolution plans. If CoC finds that considering this plan may bring maximization of value it may take a call and decide accordingly. RP to file an affidavit to the effect of the decision taken by the CoC with respect to the present applicant. Issue notice to RP and CoC. List the matter on 04.03.2022.

Summary

The Tribunal ordered the RP to file an affidavit regarding the CoC's decision on a resolution plan submitted by a proposed Resolution Applicant. The matter is listed for further hearing on 04.03.2022.