TMI BlogMandatory contents of resolution planX X X X Extracts X X X X X X X X Extracts X X X X ..... lution of the corporate debtor under the Code; (b) a statement giving details if the resolution applicant or any of its related parties has failed to implement or contributed to the failure of implementation of any resolution plan approved by the Adjudicating Authority at any time in the past; and (c) an undertaking that every information and records provided in connection with or in the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plan. (4) A resolution plan shall include a statement as to how it has dealt with the interests of all stakeholders, including financial creditors and operational creditors, of the corporate debtor. (5) The amount payable under a resolution plan (a) to the operational creditors shall be paid in priority over financial creditors; and (b) to the financial creditors, who have a right t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|