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Resolution plan submitted by applicant accepted by NCLT as it was above liquidation value

November 12, 2019[2019] 111 178 (NCLT - Mum.)

IBC: Where resolution professional filed an application for 'Liquidation' of corporate debtor as CoC had rejected resolution plan submitted by 'T', offer in resolution plan submitted by resolution applicant being above liquidation value, plan of 'T' was to be approved and would be binding on corporate debtor and other stakeholders involved so that revival of debtor company would come into force with immediate effect

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