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NATIONAL COMPANY LAW TRIBUNAL
Khetrabasi Biswal, Judicial Member, Shishir Agarwal, Technical Member
Gurdev Bassi – Appellant
Versus
Sandla Bhandari – Respondent
| Table of Content |
|---|
| 1. cirp initiation, coc formation, and resolution plan submission process. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17) |
| 2. salient features of approved resolution plan. (Para 18) |
| 3. compliance with section 29a and pufe matters. (Para 19 , 21) |
| 4. limited judicial review under section 30(2) per precedents. (Para 22 , 23 , 24 , 25 , 26 , 27) |
| 5. approval of plan with binding effects and directions. (Para 28 , 29 , 30 , 31) |
ORDER
1. The instant Application bearing IA (I.B.C) No. 1232 of 2023 is being filed on behalf of Mr. Gurdev Bassi (hereinafter referred to as “Applicant’), the Resolution Professional for M/S Valueworth Capital Management Private Limited (hereinafter referred to as “Corporate Debtor”) filed under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “Code”) for seeking approval of the Resolution Plan submitted by Successful Resolution Applicant (hereinafter referred to as “SRA”) Ms. Ritika Bhandari approved in the 4th CoC meeting.
2. The Corporate Debtor namely Valueworth Capital Management Private Limited was admitted into Corporate Insolvency Resolution Process (hereinafter
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