{"id":23676,"date":"2022-11-22T00:25:51","date_gmt":"2022-11-21T18:55:51","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=23676"},"modified":"2025-03-25T17:20:06","modified_gmt":"2025-03-25T11:50:06","slug":"resolution-plan","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/resolution-plan\/","title":{"rendered":"How to be Prepared Resolution Plan under Insolvency Law \u00a0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d25e2ac3839\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d25e2ac3839\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#How_to_be_prepared_Resolution_Plan_under_Insolvency_Law\" title=\"How to be prepared Resolution Plan under Insolvency Law \u00a0\">How to be prepared Resolution Plan under Insolvency Law \u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#SAMPLE_RESOLUTION_PLAN\" title=\"SAMPLE RESOLUTION PLAN\">SAMPLE RESOLUTION PLAN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#MODEL_RESOLUTION_PLAN_TABLE_OF_CONTENTS\" title=\"MODEL RESOLUTION PLAN TABLE OF CONTENTS\">MODEL RESOLUTION PLAN TABLE OF CONTENTS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#I_DEFINITIONS_AND_INTERPRETATIONS\" title=\"I. DEFINITIONS AND INTERPRETATIONS\">I. DEFINITIONS AND INTERPRETATIONS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#II_OVERVIEW_OF_THE_CORPORATE_DEBTOR_AND_CORPORATE_INSOLVENCY_RESOLUTION_PROCESS\" title=\"II. OVERVIEW OF THE CORPORATE DEBTOR AND CORPORATE INSOLVENCY RESOLUTION PROCESS\">II. OVERVIEW OF THE CORPORATE DEBTOR AND CORPORATE INSOLVENCY RESOLUTION PROCESS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#III_PROJECT_BACKGROUND_AND_PRIME_REASONS_OF_INSOLVENCY\" title=\"III. PROJECT BACKGROUND AND PRIME REASONS OF INSOLVENCY\">III. PROJECT BACKGROUND AND PRIME REASONS OF INSOLVENCY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#V_DETAILS_OF_THE_RESOLUTION_PLAN\" title=\"V. DETAILS OF THE RESOLUTION PLAN\">V. DETAILS OF THE RESOLUTION PLAN<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#VI_ELIGIBILITY_DETAILS_IN_RELATION_OF_RESOLUTION_APPLICANT_AND_CONNECTED_PERSONS_ARE_PROVIDED_BELOW\" title=\"VI. ELIGIBILITY DETAILS IN RELATION OF RESOLUTION\u00a0 \u00a0 APPLICANT AND CONNECTED PERSONS ARE PROVIDED BELOW:\">VI. ELIGIBILITY DETAILS IN RELATION OF RESOLUTION\u00a0 \u00a0 APPLICANT AND CONNECTED PERSONS ARE PROVIDED BELOW:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#VII_DETAILS_AS_PER_REGULATION_38_OF_INSOLVENCY_BANKRUPTCY_BOARD_OF_INDIA_INSOLVENCY_RESOLUTION_PROCESS_FOR_CORPORATE_PERSONS_REGULATIONS_2016\" title=\"VII. DETAILS AS PER REGULATION 38 OF INSOLVENCY &amp; BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016:\">VII. DETAILS AS PER REGULATION 38 OF INSOLVENCY &amp; BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#IX_APPROVALSWAIVERS_SPECIFIC_ORDERS_BYFROM_NCLT\" title=\"IX. APPROVALS\/WAIVERS\/ SPECIFIC ORDERS BY\/FROM NCLT\">IX. APPROVALS\/WAIVERS\/ SPECIFIC ORDERS BY\/FROM NCLT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#X_INDICATIVE_TIMELINE_OF_EVENTS_FOR_IMPLEMENTATION_OF_PROPOSED_RESOLUTION_PLAN\" title=\"X. INDICATIVE\u00a0\u00a0\u00a0\u00a0\u00a0 TIMELINE\u00a0\u00a0\u00a0\u00a0\u00a0 OF\u00a0\u00a0\u00a0\u00a0\u00a0 EVENTS\u00a0\u00a0\u00a0\u00a0\u00a0 FOR\u00a0 IMPLEMENTATION OF PROPOSED RESOLUTION PLAN:\">X. INDICATIVE\u00a0\u00a0\u00a0\u00a0\u00a0 TIMELINE\u00a0\u00a0\u00a0\u00a0\u00a0 OF\u00a0\u00a0\u00a0\u00a0\u00a0 EVENTS\u00a0\u00a0\u00a0\u00a0\u00a0 FOR\u00a0 IMPLEMENTATION OF PROPOSED RESOLUTION PLAN:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#XI_PERFORMANCE_SECURITY\" title=\"XI. PERFORMANCE SECURITY :\">XI. PERFORMANCE SECURITY :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#XII_OTHER_TERMS_AND_CONDITIONS\" title=\"XII. OTHER TERMS AND CONDITIONS\u00a0\">XII. OTHER TERMS AND CONDITIONS\u00a0<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#Governing_Law\" title=\"Governing Law\">Governing Law<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#Binding_effect\" title=\"Binding effect\">Binding effect<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#Severability_and_right_to_modify\" title=\"Severability and right to modify\">Severability and right to modify<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#Assignment_of_Interest\" title=\"Assignment of Interest\">Assignment of Interest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#Consequences_of_revocation\" title=\"Consequences of revocation\">Consequences of revocation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#DECLARATION\" title=\"DECLARATION\">DECLARATION<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/carajput.com\/blog\/resolution-plan\/#Concerns_over_Byjus_insolvency_proceedings_by_seeking_a_formal_investigation_By_IBBI\" title=\"Concerns over Byju\u2019s insolvency proceedings by seeking a formal investigation By IBBI\u00a0\">Concerns over Byju\u2019s insolvency proceedings by seeking a formal investigation By IBBI\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23677\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/How-to-be-prepared-Resolution-Plan.jpg\" alt=\"How to be prepared Resolution Plan\" width=\"851\" height=\"580\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/How-to-be-prepared-Resolution-Plan.jpg 660w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/How-to-be-prepared-Resolution-Plan-300x205.jpg 300w\" sizes=\"(max-width: 851px) 100vw, 851px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"How_to_be_prepared_Resolution_Plan_under_Insolvency_Law\"><\/span><span style=\"color: #000080;\"><strong>How to be prepared Resolution Plan under Insolvency Law <\/strong><strong>\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A Model Resolution Plan. The plan is not a legislative or regulatory document and was created based on research into other approved resolution plans. The plan is not based on any provision or regulation under the code and may only be used as a guide while preparing a plan. Any action taken based on this plan is not under the control of Rajput Jain and Associates. Please refer to the code&#8217;s provisions and its regulations when creating your resolution plan.<\/p>\n<ul>\n<li>A resolution applicant must provide the resolution professional with a resolution plan that was created using the information memorandum. enables the payment of the costs of the insolvency resolution procedure in accordance with the Board&#8217;s specified order, with the payment of all other corporate debtor debts receiving precedence.<\/li>\n<li>After its assessment, the resolution professional will submit the resolution plan for approval to the committee of creditors.<\/li>\n<li>A vote of at least 66% of the financial creditors with voting rights must agree to the resolution plan in order for it to be approved by the committee of creditors.<\/li>\n<li>A resolution applicant may submit a resolution plan 1 along with an affidavit declaring that he is qualified under section 29A] to the resolution professional created in accordance with the information memorandum.<\/li>\n<li>Priority in payment over financial creditors is given to the sum owed to operational creditors under a resolution plan.<\/li>\n<li>A resolution plan must include a description of how it addressed the interests of all parties, including the corporate debtor&#8217;s operational and financial creditors.<\/li>\n<li>A vote of at minimum 66% of the financial creditors with voting rights must approve to the resolution plan in order for it to be accepted by the committee of creditors.<\/li>\n<li>Even an appeal against a resolution plan that has been accepted, as described by section 61(3) of the Code, may be reviewed by the appellate authority.<\/li>\n<\/ul>\n<p>In consideration of \u2018Practical Aspects of Insolvency Law we are giving the sample Resolution Plan format. \u00a0This resolution plan has not been prepared as a statutory or regulatory document and has been based on an analysis of other approved resolution plans. this plan is not based on any provision or regulation under the code and may only be used as a reference while preparing a plan. icsi iip assumes no responsibility for any actions taken in reliance upon this plan. for the preparation of your resolution plan, please refer to the provisions of the code and its regulations.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23678\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2022\/11\/SAMPLE-RESOLUTION-PLAN.jpg\" alt=\"SAMPLE RESOLUTION PLAN\" width=\"916\" height=\"686\" \/><\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"SAMPLE_RESOLUTION_PLAN\"><\/span><span style=\"color: #000080;\"><strong>SAMPLE <\/strong><strong>RESOLUTION PLAN<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: center;\"><strong>MODEL RESOLUTION PLAN<\/strong><\/p>\n<p style=\"text-align: center;\"><u>PRIVILEGED AND CONFIDENTIAL<\/u><\/p>\n<p><u>\u00a0<\/u><u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u><u>(<\/u>DATE)<\/p>\n<p>RESOLUTION PLAN FOR<\/p>\n<p><u>\u00a0<\/u><u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>(NAME OF THE CORPORATE DEBTOR)<\/p>\n<p>CIN: <u>\u00a0<\/u><u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u><\/p>\n<p><em>(Pursuant to Insolvency and Bankruptcy Code, 2016<\/em><\/p>\n<p>BY RESOLUTION APPLICANT<\/p>\n<p><u>\u00a0<\/u><u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>(NAME)<\/p>\n<p>Submitted to:<\/p>\n<p><u>\u00a0<\/u><u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>(Name) Resolution Professional IBBI registration No:<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MODEL_RESOLUTION_PLAN_TABLE_OF_CONTENTS\"><\/span><span style=\"text-decoration: underline; color: #000080;\"><strong>MODEL RESOLUTION PLAN TABLE OF CONTENTS<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"height: 1977px;\" width=\"907\">\n<tbody>\n<tr>\n<td width=\"50\"><strong>S. No.<\/strong><\/td>\n<td width=\"297\"><strong>PARTICULARS<\/strong><\/td>\n<td width=\"145\"><\/td>\n<td width=\"188\"><\/td>\n<\/tr>\n<tr>\n<td width=\"50\">I.<\/td>\n<td width=\"297\">Definitions and interpretations<\/td>\n<td width=\"145\"><\/td>\n<td width=\"188\"><\/td>\n<\/tr>\n<tr>\n<td width=\"50\">II.<\/td>\n<td width=\"297\">Overview of the corporate debtor and corporate insolvency resolution process<\/p>\n<p>2.1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 General information about the company<\/p>\n<p>2.2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Details about past performance of the Company<\/p>\n<p>2.3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Brief background of CORPORATE INSOLVENCY RESOLUTION PROCESS and time lines<\/p>\n<p>2.4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Details of\u00a0 \u00a0litigations\u00a0 \u00a0by\u00a0 \u00a0or\u00a0 \u00a0against\u00a0 \u00a0the<\/p>\n<p>Company<\/td>\n<td width=\"145\"><\/td>\n<td width=\"188\"><\/td>\n<\/tr>\n<tr>\n<td width=\"50\">III.<\/td>\n<td width=\"297\">PROJECT BACKGROUND AND PRIME REASONS OF INSOLVENCY<\/p>\n<p>3.1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Brief details about the Project<\/p>\n<p>3.2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Manufacturing facilities and infrastructure available with the Company<\/p>\n<p>3.3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Manpower and employee strength of the Company<\/p>\n<p>3.4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Estimated reasons for insolvency of the Company<\/td>\n<td width=\"145\"><\/td>\n<td width=\"188\"><\/td>\n<\/tr>\n<tr>\n<td width=\"50\">IV.<\/td>\n<td width=\"297\">OVERVIEW OF THE RESOLUTION APPLICANT<\/td>\n<td width=\"145\"><\/td>\n<td width=\"188\"><\/td>\n<\/tr>\n<tr>\n<td width=\"50\">V.<\/td>\n<td width=\"297\">DETAILS OF THE RESOLUTION PLAN<\/p>\n<p>Cut-off date Effective date Assumptions<\/p>\n<p>5.1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Resolution Strategy<\/p>\n<p>5.2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Proposed Governance Structure<\/p>\n<p>5.3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Cost of resolution plan and means of finance<\/p>\n<p>5.4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Specific procedure for payment of dues of all the creditors<\/p>\n<p>5.5\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Proposal\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 for\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 capital\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 and financial restructuring<\/p>\n<p>5.6\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Proposal for operating restructuring<\/p>\n<p>5.7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Financial projections<\/p>\n<p>5.8\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Tax implications<\/p>\n<p>5.9\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Details of parties that will infuse capital<\/p>\n<p>5.10\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Availment of credit facilities<\/p>\n<p>5.11\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Term\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 of\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 resolution\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 plan and\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 its implementations<\/p>\n<p>5.12\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 proposal relating to adequate means for supervising its implementation<\/p>\n<p>5.13\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Strategy to deal with transactions covered U\/s 45, 50, 66 etc.<\/p>\n<p>5.14\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Turnaround the business: Strategies<\/p>\n<p>5.15\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Standing of bidder resolution applicant<\/p>\n<p>5.16\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Details of dealing with the interest of all the stakeholders<\/td>\n<td width=\"145\"><\/td>\n<td width=\"188\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table style=\"height: 748px;\" width=\"919\">\n<tbody>\n<tr>\n<td width=\"60\"><\/td>\n<td width=\"359\">5.17\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Details\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 whether\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 the bidder resolution applicant\/related parties have failed to implement the resolution plan earlier.<\/p>\n<p>5.18\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Recovery indicators<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">VI.<\/td>\n<td width=\"359\">Eligibility details in relation of resolution applicant and connected persons<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">VII.<\/td>\n<td width=\"359\">Details as per Regulation 38 of Insolvency &amp; Bankruptcy Board of India (Insolvency Resolution<\/p>\n<p>Process for Corporate Persons) Regulations, 2016<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">VIII.<\/td>\n<td width=\"359\">Eligibility norms as proposed in the evaluation matrix<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">IX.<\/td>\n<td width=\"359\">Approvals\/waivers\/ specific orders by\/from NCLT<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">X.<\/td>\n<td width=\"359\">Indicative timeline of events for implementation of proposed resolution<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">XI.<\/td>\n<td width=\"359\">Performance security<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<tr>\n<td width=\"60\">XII.<\/td>\n<td width=\"359\">other terms and conditions<\/td>\n<td width=\"202\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"I_DEFINITIONS_AND_INTERPRETATIONS\"><\/span><span style=\"color: #000080;\"><em>I. <\/em>DEFINITIONS AND INTERPRETATIONS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>(All the definitions and interpretations can be covered here)<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"II_OVERVIEW_OF_THE_CORPORATE_DEBTOR_AND_CORPORATE_INSOLVENCY_RESOLUTION_PROCESS\"><\/span><span style=\"color: #000080;\"><em>II. <\/em>OVERVIEW OF THE CORPORATE DEBTOR AND CORPORATE INSOLVENCY RESOLUTION PROCESS<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This resolution plan is submitted by the resolution applicant pursuant to the Code, for the corporate insolvency resolution of the Company.<\/p>\n<p>The corporate insolvency process involving the Company was initiated pursuant to a petition<\/p>\n<p>under Section\u00a0\u00a0\u00a0\u00a0\u00a0 of the Code filed by<u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>Ltd. as one of the<u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>creditors for initiation<\/p>\n<p>of the Corporate Insolvency Resolution process (CORPORATE INSOLVENCY RESOLUTION PROCESS) against the Company which was admitted by the Hon\u2019ble National Law Tribunal (Adjudicating Authority),<u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0<\/u>Bench vide its order dated<u>\u00a0\u00a0 <\/u>.<\/p>\n<p>The adjudicating Authority appointed<u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>, Insolvency professional, Registration Number:<u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>as the interim resolution professional and subsequently appointed and confirmed as the Resolution professional in the first meeting of Committee of Creditors held on<u>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/u>.<\/p>\n<p>The Resolution professional made available the Information memorandum to the Resolution applicant.<\/p>\n<ul>\n<li><strong><u>General information about the company:<\/u><\/strong><\/li>\n<\/ul>\n<table style=\"height: 1109px;\" width=\"894\">\n<tbody>\n<tr>\n<td width=\"55\"><strong>S.NO<\/strong><\/td>\n<td colspan=\"2\" width=\"193\"><strong>ITEM<\/strong><\/td>\n<td width=\"354\"><strong>PARTICULARS<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">1.<\/td>\n<td colspan=\"2\" width=\"193\">Name of the Company<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">2.<\/td>\n<td width=\"161\">Registered\u00a0\u00a0\u00a0\u00a0\u00a0 Office\u00a0\u00a0\u00a0\u00a0\u00a0 of Company<\/td>\n<td width=\"32\">the<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">3.<\/td>\n<td colspan=\"2\" width=\"193\">Date of incorporation<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">4.<\/td>\n<td colspan=\"2\" width=\"193\">Website<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.<\/td>\n<td colspan=\"2\" width=\"193\">Date of initiation of CORPORATE INSOLVENCY RESOLUTION PROCESS<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">6.<\/td>\n<td colspan=\"2\" width=\"193\">Name and contact details of ResolutionProfessional<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">7.<\/td>\n<td width=\"161\">Date\u00a0\u00a0\u00a0\u00a0\u00a0 of\u00a0\u00a0\u00a0\u00a0\u00a0 submission<\/p>\n<p>Resolution\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Plan Resolution Professional<\/td>\n<td width=\"32\">of to<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">8.<\/td>\n<td colspan=\"2\" width=\"193\">Directors<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">9.<\/td>\n<td colspan=\"2\" width=\"193\">Shareholding (Authorized\/Paid up\/top 5<\/p>\n<p>shareholders)<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">10.<\/td>\n<td colspan=\"2\" width=\"193\">Industry Segment<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">11.<\/td>\n<td width=\"161\">Business\u00a0\u00a0\u00a0\u00a0 Activity\u00a0\u00a0\u00a0\u00a0 of Company<\/td>\n<td width=\"32\">the<\/td>\n<td width=\"354\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li><strong><u>Details about past performance of the Company:<\/u><\/strong><\/li>\n<\/ul>\n<p><em>Summarised performance of the Corporate Debtor in the last 3 financial years (including the balance sheet, profit &amp; loss account, cash flow statement) <\/em><em>Any remarks by the resolution applicant:<\/em><\/p>\n<ul>\n<li><strong><u>Brief background of CORPORATE INSOLVENCY RESOLUTION PROCESS and timelines<\/u><\/strong><\/li>\n<\/ul>\n<p><em>Details of application filed with National Company Law Tribunal for insolvency resolution process, details of creditors and amount of credit therein etc<\/em><\/p>\n<ul>\n<li><strong><u>Details of litigations (prior to commencement of IBC) by or against the Corporate<\/u><\/strong> <strong><u>Debtor with respect to payment of debts<\/u><\/strong><\/li>\n<\/ul>\n<p><em>Details of all the litigations may be covered here.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"III_PROJECT_BACKGROUND_AND_PRIME_REASONS_OF_INSOLVENCY\"><\/span><span style=\"color: #000080;\"><em>III. <\/em>PROJECT BACKGROUND AND PRIME REASONS OF INSOLVENCY<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"height: 524px;\" width=\"912\">\n<tbody>\n<tr>\n<td width=\"52\"><strong>S.NO<\/strong><\/td>\n<td width=\"211\"><strong>ITEM<\/strong><\/td>\n<td width=\"331\"><strong>PARTICULARS<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"52\"><strong>3.1<\/strong><\/td>\n<td width=\"211\">Brief details about the project<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"52\"><strong>3.2<\/strong><\/td>\n<td width=\"211\">Manufacturing\u00a0\u00a0\u00a0\u00a0\u00a0 facilities\u00a0\u00a0\u00a0\u00a0\u00a0 and Infrastructure\u00a0\u00a0\u00a0 available\u00a0\u00a0\u00a0\u00a0 with<\/p>\n<p>the Company<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"52\"><strong>3.3<\/strong><\/td>\n<td width=\"211\">Manpower\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 and\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 employee<\/p>\n<p>strength of the Company<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"52\"><strong>3.4<\/strong><\/td>\n<td width=\"211\">Estimated\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 reasons\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 for insolvency of the Company<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ol>\n<li><strong><u>INFORMATION ABOUT THE RESOLUTION APPLICANT<\/u><\/strong><\/li>\n<\/ol>\n<table style=\"height: 974px;\" width=\"914\">\n<tbody>\n<tr>\n<td width=\"55\"><strong>S.NO<\/strong><\/td>\n<td colspan=\"4\" width=\"230\"><strong>ITEM<\/strong><\/td>\n<td width=\"331\"><strong>PARTICULARS<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">1.<\/td>\n<td width=\"69\">Name of Applicant<\/td>\n<td width=\"33\">the<\/td>\n<td width=\"86\">resolution<\/td>\n<td width=\"43\"><\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">2.<\/td>\n<td colspan=\"4\" width=\"230\">Constitutionof\u00a0\u00a0\u00a0\u00a0\u00a0 the resolution Applicant<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">3.<\/td>\n<td colspan=\"4\" width=\"230\">Address for correspondence of the Resolution Applicant<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">4.<\/td>\n<td colspan=\"4\" width=\"230\">PAN<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.<\/td>\n<td colspan=\"4\" width=\"230\">Email Id<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">6.<\/td>\n<td colspan=\"4\" width=\"230\">Phone No<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">7.<\/td>\n<td colspan=\"4\" width=\"230\">Date of incorporation<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">8.<\/td>\n<td colspan=\"4\" width=\"230\">Name of Directors&amp; KMPs<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">9.<\/td>\n<td colspan=\"4\" width=\"230\">Name of the person (s) who is authorized by the company to submit Resolution Plan and their designation, contact no.<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">10.<\/td>\n<td colspan=\"4\" width=\"230\">Shareholding\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (Authorized\/Paid up\/top 5 shareholders)<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">11.<\/td>\n<td width=\"69\">Details<\/td>\n<td width=\"33\">of<\/td>\n<td width=\"86\">subsidiaries<\/td>\n<td width=\"43\">and<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table style=\"height: 663px;\" width=\"911\">\n<tbody>\n<tr>\n<td width=\"55\"><\/td>\n<td width=\"230\">associate companies<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">12.<\/td>\n<td width=\"230\">Main\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 activities\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 and Products<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">13.<\/td>\n<td width=\"230\">List\u00a0\u00a0\u00a0\u00a0 of\u00a0\u00a0\u00a0\u00a0 major\u00a0\u00a0\u00a0\u00a0 customers\u00a0\u00a0\u00a0\u00a0 and suppliers<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">14.<\/td>\n<td width=\"230\">Details\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 of\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 manufacturing facilities (Location etc)<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">15.<\/td>\n<td width=\"230\">Past performance and financials as<\/p>\n<p>per\u00a0\u00a0\u00a0\u00a0\u00a0 last\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 threeyears\u00a0\u00a0\u00a0\u00a0\u00a0 Audited Financials<\/td>\n<td width=\"331\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">16.<\/td>\n<td width=\"230\">Relationship\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 if\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 any\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 with Corporate Borrower<\/td>\n<td width=\"331\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"V_DETAILS_OF_THE_RESOLUTION_PLAN\"><\/span><span style=\"color: #000080;\"><em>V. <\/em>DETAILS OF THE RESOLUTION PLAN<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the basis of information memorandum, documents available in the public domain and additional information provided by the resolution professional,<\/p>\n<p>I\/we hereby submit the following resolution plan:<\/p>\n<p>The Resolution plan, as detailed in the following table envisages the following:<\/p>\n<ul>\n<li><strong>\u201cCut-off date\u201d <\/strong>for the purpose of determining the liability to be settled under the proposed resolution plan has been considered as<u> <\/u>, which is also the Insolvency Commencement<\/li>\n<li><strong>\u201cEffective date\u201d <\/strong>for the purpose of implementation of this plan means the date on which the resolution plan is approved by the Adjudicating<\/li>\n<li><strong>Assumptions<\/strong>: <em>Key assumptions used for preparation of resolution plan may be indicated<\/em>.<\/li>\n<\/ul>\n<table style=\"height: 670px;\" width=\"908\">\n<tbody>\n<tr>\n<td width=\"55\"><strong>S.NO<\/strong><\/td>\n<td width=\"230\"><strong>ITEM<\/strong><\/td>\n<td width=\"336\"><strong>PARTICULARS<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.1.<\/td>\n<td width=\"230\">Main strategy proposed in the Resolution Plan<\/p>\n<p><em>(Strategy may include takeover, merger, sale of assets etc)<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>Proposed Operation plan may be specified, Changes in technology, product mix etc. may be provided.<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.2<\/td>\n<td width=\"230\">Proposed Governance Structure including Board of directors, key management, Promoters and members<\/p>\n<p>&nbsp;<\/p>\n<p>Adequacy regarding licences, permissions, manpower etc. to operate at projected level may<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table style=\"height: 1589px;\" width=\"910\">\n<tbody>\n<tr>\n<td width=\"55\"><\/td>\n<td width=\"230\">also be specified<\/td>\n<td width=\"336\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.3<\/td>\n<td width=\"230\">Cost of Resolution Plan and Means of Finance<\/p>\n<p>&nbsp;<\/p>\n<p>Sources of funds that will be used to pay cost of CORPORATE INSOLVENCY RESOLUTION PROCESS, dues to operational creditors&amp; dissenting financial creditors as per provisions of section 30(2)(b) of the code, may be provided.<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.4<\/td>\n<td width=\"230\">Specify procedure for payment of dues towards resolution process costs\/ financial creditors\/ operational creditors\/ government dues\/disputed claims\/dissenting financial creditors etc. along with the details of payment made in relation to actual debts including the sources of funds that will be used to pay the dues.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><em>(With reference &amp; confirmation that amount due to the operational creditors under a resolution plan shall be given priority in payment<\/em><\/p>\n<p><em>over financial creditors.)<\/em><\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.5<\/td>\n<td width=\"230\">Proposal for capital and Financial Restructuring<\/p>\n<p>a)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Details of the creditors along with details of such debt and amount of debt.<\/p>\n<p>b)\u00a0\u00a0\u00a0\u00a0\u00a0 The structure and method of payment to each of the creditor.<\/p>\n<p>c)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Transfer of shares\/merger, amalgamation, delisting or other corporate restructuring plans<\/p>\n<p>d)\u00a0\u00a0\u00a0\u00a0\u00a0 Details\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 on<\/p>\n<p>satisfaction\/modification of security interest<\/p>\n<p>e)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sale\/disposal of assets, if any<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table style=\"height: 2020px;\" width=\"925\">\n<tbody>\n<tr>\n<td width=\"55\">5.6<\/td>\n<td width=\"230\">Proposal for operating restructuring<\/p>\n<p>a)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The operating restructuring\/turnaround strategy that may be adopted by the Company (changes in technology etc.).<\/p>\n<p>b)\u00a0\u00a0\u00a0\u00a0\u00a0 The benefits of adoption of such strategy to various<\/p>\n<p>stakeholders<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.7<\/td>\n<td width=\"230\">Financial Projections<\/p>\n<p>&nbsp;<\/p>\n<p><em>(Reasonableness of Financial Projections i.e. Sales, EBITDA, EBIT etc.\/Certainty\/Likelihood\/Feasibilit y\/Eventuality of honoring proposed<\/em><\/p>\n<p><em>commitments may be provided)<\/em><\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.8<\/td>\n<td width=\"230\">If resolution plan has any Tax implication, the same may be<\/p>\n<p>indicated<\/td>\n<td width=\"336\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.9<\/td>\n<td width=\"230\">Details of parties that will infuse the capital<\/p>\n<p>a)\u00a0\u00a0\u00a0 Details of the amount of capital infused<\/p>\n<p>b)\u00a0\u00a0 Time period within which capital will be raised<\/p>\n<p>c)\u00a0 Source of such capital infusion<\/p>\n<p>d)\u00a0 Utilization of such capital<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.10<\/td>\n<td width=\"230\">Availment of credit facilities<\/p>\n<p>&nbsp;<\/p>\n<p>a)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Improving operations<\/p>\n<p>b)\u00a0\u00a0\u00a0\u00a0\u00a0 Capital Expenditure<\/p>\n<p>c)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Working Capital facilities<\/p>\n<p>d)\u00a0\u00a0\u00a0\u00a0\u00a0 Any other purpose, shall be clearly specified along with<\/p>\n<p>timelines for such infusion<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.11<\/td>\n<td width=\"230\">Term of the resolution plan and its implementation schedule<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.12<\/td>\n<td width=\"230\">Proposal relating to adequate means for supervising its implementation<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.13<\/td>\n<td width=\"230\">Stratergy to deal with transactions covered U\/s 43, Section 45, Section 50, Section 66 etc.<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.14<\/td>\n<td width=\"230\">Ability of Resolution Applicant to turnaround distressed companies;<\/p>\n<p><em>a)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/em>Turnaround strategy<\/p>\n<p><em>b)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/em>Managerial competence and technical abilities<\/p>\n<p><em>c)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/em>track record in implementing turnaround of stressed assets<\/p>\n<p><em>d)\u00a0\u00a0\u00a0\u00a0\u00a0 <\/em>Technology advancement\/<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table style=\"height: 1037px;\" width=\"921\">\n<tbody>\n<tr>\n<td width=\"55\"><\/td>\n<td width=\"230\">Reduction cost<\/td>\n<td width=\"336\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.15<\/td>\n<td width=\"230\">Standing\u00a0\u00a0\u00a0\u00a0\u00a0 of\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Resolution Applicant<\/p>\n<p>a)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 experience in sector<\/p>\n<p>b)\u00a0\u00a0\u00a0\u00a0\u00a0 external rating<\/p>\n<p>c)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 adherence to financial discipline<\/p>\n<p>d)\u00a0\u00a0\u00a0\u00a0\u00a0 record of regulatory compliance<\/p>\n<p>e)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 whether NPA, including Group Companies, &lt;12 months<\/p>\n<p>f)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Others<\/td>\n<td width=\"336\"><strong>Annexure- \u2026..<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.16<\/td>\n<td width=\"230\">Details of dealing with the interest of all stakeholders, including financial creditors and operational creditors, of the Corporate Debtor.<\/td>\n<td width=\"336\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.17<\/td>\n<td width=\"230\">Details whether a resolution Applicant or any of its related parties has failed to implement or contributed to the failure of implementation of any other resolution plan approved by the Adjudicating Authority at any time<\/p>\n<p>in the past.<\/td>\n<td width=\"336\"><\/td>\n<\/tr>\n<tr>\n<td width=\"55\">5.18<\/td>\n<td width=\"230\">Recovery Indicators<\/p>\n<p>Specify recovery indicators of resolution plan, assessment techniques and mile stones<\/td>\n<td width=\"336\">&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"VI_ELIGIBILITY_DETAILS_IN_RELATION_OF_RESOLUTION_APPLICANT_AND_CONNECTED_PERSONS_ARE_PROVIDED_BELOW\"><\/span><span style=\"color: #000080;\"><em>VI. <\/em>ELIGIBILITY DETAILS IN RELATION OF RESOLUTION\u00a0 \u00a0 APPLICANT AND CONNECTED PERSONS ARE PROVIDED BELOW:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"height: 711px;\" width=\"913\">\n<tbody>\n<tr>\n<td width=\"74\"><strong>SECTION<\/strong><\/td>\n<td width=\"377\"><strong>ITEM<\/strong><\/td>\n<td width=\"193\"><strong>PARTICULARS<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"74\">29(A)(a)<\/td>\n<td width=\"377\">is an undischarged insolvent<\/td>\n<td width=\"193\"><\/td>\n<\/tr>\n<tr>\n<td width=\"74\">29(A)(b)<\/td>\n<td width=\"377\">is a willful defaulter in accordance with the guidelines of the Reserve Bank of India issued under the Banking<\/p>\n<p>Regulation Act, 1949<\/td>\n<td width=\"193\"><\/td>\n<\/tr>\n<tr>\n<td width=\"74\">29(A)(c)<\/td>\n<td width=\"377\">at the time of submission of the resolution plan has an account, or an account of a corporate debtor under the management or control of such person or of whom such person is a promoter, classified as non-performing asset in accordance with the guidelines of the Reserve Bank of India issued under the Banking Regulation Act, 1949 or the guidelines of a financial sector regulator issued under any other law for the time being in force, and at least a period of one year has lapsed from the date of such classification till the date of commencement of the corporate insolvency resolution process of the corporate debtor:<\/td>\n<td width=\"193\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>29(A)(d)\u00a0 :\u00a0Provided that the person shall be eligible to submit a resolution plan if such person makes payment of all overdue amounts with interest thereon and charges relating to nonperforming asset accounts before submission of resolution plan:<\/p>\n<p>Provided further that nothing in this clause shall apply to a resolution applicant where such applicant is a financial entity and is not a related party to the corporate debtor. has been convicted for any offence punishable with imprisonment:<\/p>\n<ul>\n<li>for two years or more under any act specified under the Twelfth Schedule; or<\/li>\n<li>for seven years or more under any other law for the time being in force.<\/li>\n<\/ul>\n<p>29(A)(e)<\/p>\n<p>Provided that this clause shall not apply to a person after the expiry of a period of two years from the date of his release from imprisonment:<\/p>\n<p>29(A)(f)<\/p>\n<p>Provided further that this clause shall not apply in relation to a connected person referred to in clause(iii) of Explanation I is disqualified to act as a director under the Companies Act, 2013<\/p>\n<p>29(A)(g)<\/p>\n<p>is prohibited by the Securities and Exchange Board of India from trading in securities or accessing the securities markets;<\/p>\n<p>has been a promoter or in the management or control of a corporate debtor in which a preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent transaction has taken place and in respect of which an order has been made by the Adjudicating Authority under this Code.<\/p>\n<p>Provided that this clause shall not apply if a preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent transaction has taken place prior to the acquisition of the corporate debtor by the resolution applicant pursuant to a resolution plan approved under this Code or pursuant to a scheme or plan approved by a financial sector regulator or a court, and such resolution applicant has not otherwise contributed to the preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent transaction<\/p>\n<p>29(A)(h)<\/p>\n<p>has executed a guarantee in favour of a creditor in respect of a corporate debtor against which an application for insolvency resolution made by such creditor has been admitted under this Code and such guarantee has been invoked by the creditor and remains unpaid in full or part<\/p>\n<table style=\"height: 375px;\" width=\"912\">\n<tbody>\n<tr>\n<td width=\"74\"><\/td>\n<td width=\"377\"><\/td>\n<td width=\"193\"><\/td>\n<\/tr>\n<tr>\n<td width=\"74\">29(A)(i)<\/td>\n<td width=\"377\">is subject to any disability, corresponding to clauses (a)<\/p>\n<p>to (h), under any law in a jurisdiction outside India; or<\/td>\n<td width=\"193\"><\/td>\n<\/tr>\n<tr>\n<td width=\"74\">29(A)(j)<\/td>\n<td width=\"377\">has a connected person not eligible under clauses (a) to<\/p>\n<p>(i)<\/td>\n<td width=\"193\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u201cConnected persons\u201d means-<\/p>\n<ol>\n<li><em>Persons who are promoters or in the management or control of the resolution applicant;<\/em><\/li>\n<li><em>The Persons who will be promoters or in management or control of the business of Company during the implementation of the Resolution Plan;<\/em><\/li>\n<li><em>Holding company, subsidiary company, associate company and related party of the persons referred to it in terms (a) and (b).<\/em><\/li>\n<\/ol>\n<p><strong><em>An Affidavit in this connection is enclosed as Annexure-<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"VII_DETAILS_AS_PER_REGULATION_38_OF_INSOLVENCY_BANKRUPTCY_BOARD_OF_INDIA_INSOLVENCY_RESOLUTION_PROCESS_FOR_CORPORATE_PERSONS_REGULATIONS_2016\"><\/span><span style=\"color: #000080;\"><em>VII. <\/em>DETAILS AS PER REGULATION 38 OF INSOLVENCY &amp; BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"height: 268px;\" width=\"898\">\n<tbody>\n<tr>\n<td width=\"64\"><strong>S.NO.<\/strong><\/td>\n<td width=\"340\"><strong>ITEM<\/strong><\/td>\n<td width=\"238\"><strong>REFERENCES<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"64\">a)<\/td>\n<td width=\"340\">it addresses the cause of default<\/td>\n<td width=\"238\"><\/td>\n<\/tr>\n<tr>\n<td width=\"64\">b)<\/td>\n<td width=\"340\">it is feasible and viable<\/td>\n<td width=\"238\"><\/td>\n<\/tr>\n<tr>\n<td width=\"64\">c)<\/td>\n<td width=\"340\">it has provisions for its effective implementation<\/td>\n<td width=\"238\"><\/td>\n<\/tr>\n<tr>\n<td width=\"64\">d)<\/td>\n<td width=\"340\">it has provisions for approvals required and the timeline for the same<\/td>\n<td width=\"238\"><\/td>\n<\/tr>\n<tr>\n<td width=\"64\">e)<\/td>\n<td width=\"340\">the\u00a0\u00a0\u00a0\u00a0 resolution\u00a0\u00a0 \u00a0applicant\u00a0\u00a0\u00a0 has\u00a0\u00a0\u00a0 the capability to implement the resolution plan<\/td>\n<td width=\"238\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u00a0<\/strong><strong><u>ELIGIBILITY NORMS AS PROPOSED IN THE EVALUATION MATRIX<\/u><\/strong><\/p>\n<table style=\"height: 182px;\" width=\"899\">\n<tbody>\n<tr>\n<td width=\"64\"><strong>S.NO.<\/strong><\/td>\n<td width=\"340\"><strong>ITEM<\/strong><\/td>\n<td width=\"239\"><strong>PARTICULARS<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"64\">1.<\/td>\n<td width=\"340\">Condition No. 1<\/td>\n<td width=\"239\">Reference\/ proof of complying<\/td>\n<\/tr>\n<tr>\n<td width=\"64\">2.<\/td>\n<td width=\"340\">Condition No. 1<\/td>\n<td width=\"239\">Reference\/ proof of complying<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"IX_APPROVALSWAIVERS_SPECIFIC_ORDERS_BYFROM_NCLT\"><\/span><span style=\"color: #000080;\"><em>IX. <\/em>APPROVALS\/WAIVERS\/ SPECIFIC ORDERS BY\/FROM NCLT<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The resolution applicant seeks for the following approvals\/waivers\/specific orders from the Hon\u2019ble NCLT:<\/p>\n<ol>\n<li>Request approval from NCLT for:<\/li>\n<li>Request waiver of liabilities from NCLT for:<\/li>\n<li>Request waiver of liabilities from NCLT for:<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"X_INDICATIVE_TIMELINE_OF_EVENTS_FOR_IMPLEMENTATION_OF_PROPOSED_RESOLUTION_PLAN\"><\/span><span style=\"color: #000080;\"><em>X. <\/em>INDICATIVE\u00a0\u00a0\u00a0\u00a0\u00a0 TIMELINE\u00a0\u00a0\u00a0\u00a0\u00a0 OF\u00a0\u00a0\u00a0\u00a0\u00a0 EVENTS\u00a0\u00a0\u00a0\u00a0\u00a0 FOR\u00a0 IMPLEMENTATION OF PROPOSED RESOLUTION PLAN:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>Key action points of resolution plan along with implementation schedule and milestones may be highlighted in the resolution plan.<\/em><em>\u00a0<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"XI_PERFORMANCE_SECURITY\"><\/span><span style=\"color: #000080;\"><em>XI. <\/em>PERFORMANCE SECURITY :<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u201c<strong>Performance Security<\/strong>\u201d means security of such nature, value, duration and source, as may be specified in the request for resolution plans with the approval of the committee, having regard to the nature of resolution plan and business of the corporate debtor.<\/p>\n<p>The resolution applicant is required to provide a performance security within the time specified therein in case its resolution plan is approved and such performance security shall stand forfeited if the resolution applicant fails to implement or contributes to the failure of implementation of that plan in accordance with the terms of the plan and its implementation schedule.<\/p>\n<p><em>Accordingly the resolution plan should specify a performance security as specified with approval of Committee of Creditors, time period within which it shall be provided.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"XII_OTHER_TERMS_AND_CONDITIONS\"><\/span><span style=\"color: #000080;\"><em>XII. <\/em>OTHER TERMS AND CONDITIONS<\/span><strong>\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Governing_Law\"><\/span><span style=\"color: #000080;\"><strong><u>Governing Law<\/u><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Company and the new management shall abide and be governed by the laws of India giving effect to Adjudicating Authority order approving the resolution plan and any agreements, documents and instruments executed in connection with the resolution plan.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Binding_effect\"><\/span><span style=\"color: #000080;\">Binding effect<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This resolution plan once approved by the Committee of Creditors and then by the Adjudicating Authority, along with such conditions as may be stipulated by the Adjudicating Authority, shall be binding on the Company, all holders of claims, creditors, members, promoter and all other parties in interest and each of their respective successors and assigns in accordance with Section 31(1) and 238 of the Code. The resolution plan does not contravene any of the provisions of the law for the time being in force. All requisite approvals and requirements of law required to give effect to the resolution plan shall be undertaken by the resolution applicant.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Severability_and_right_to_modify\"><\/span><span style=\"color: #000080;\">Severability and right to modify<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In the event it is determined that any provisions of the resolution plan is unenforceable either on its face or as applied to any claims or transactions and\/or in the event any provision of the resolution plan becomes invalid for reasons other than by breach of any party, the new management of the Company may apply to<\/p>\n<p>Adjudicating Authority for appropriate modifications of such provisions of the resolution plan, to satisfaction of the Adjudicating Authority, and such invalidity and\/or unenforceability of the provision of the resolution plan shall not render the whole resolution plan ineffective, unless otherwise directed by the Adjudicating Authority by order.<\/p>\n<p>In case any such modification is required in the resolution plan after the receipt of Adjudicating authority approval, to comply with any laws currently in force or to apply for certain approvals as required under the resolution plan or for any requirements, not jeopardizing the rights of the creditors under the current plan, the new management of the company can do so only after approval of NCLAT.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Assignment_of_Interest\"><\/span><span style=\"color: #000080;\">Assignment of Interest<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Any creditor may assign its rights under this resolution plan, subject to the transferee unconditionally agreeing to the bound by the terms of this resolution plan.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Consequences_of_revocation\"><\/span><span style=\"color: #000080;\">Consequences of revocation<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In the event the resolution plan fails, the existing facilities of the creditors, the rights and remedies of the creditors under their respective existing financing documents including all securities and guarantees shall continue as if they had not been waived, amended, modified, released, superseded or replaced by the resolution plan and the creditors shall be entitled to enforce such rights and remedies under the existing financing documents, as if the same had not been waived and\/or modified pursuant to this resolution plan and the other relevant documents executed thereof. In the event of failure of resolution plan any amount paid to the financial creditor will be adjusted towards the outstanding dues of the company. Provided; however, that the obligations of the company under the resolution plan shall continue to be binding on the Company and its co-obligators and the creditors shall be entitled to exercise all the rights and remedies conferred on them pursuant to this resolution plan.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"DECLARATION\"><\/span><span style=\"color: #000080;\">DECLARATION<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>We hereby declare that we have read and understood all the terms and conditions relating to the formulation of resolution plan and hereby express our interest in the submission of resolution plan for the said Company. We further declare that the resolution plan is not in contravention of provisions of the Applicable Law and conforms to other requirements as may be specified by the Insolvency and Bankruptcy Board of India.<\/p>\n<p>We also hereby declare that any confidential information of the Company that has come to our knowledge or might come to our knowledge during the insolvency resolution process shall not be divulged by us.<\/p>\n<p>We hereby agree to invest the funds as proposed in the Resolution Plan. We understand that the Resolution Professional and\/or the Committee of Creditors have further right to renegotiate the terms of this Resolution Plan &amp; the decision of the Resolution Professional and\/or the CoC\u2019s in selection of the Successful Resolution Applicant shall be final and binding on us. We acknowledge that the Resolution Plan submitted is irrevocable and once the Resolution Plan is received and accepted, it shall not be transferable\/ assignable.<\/p>\n<p>We undertake to provide the Resolution Professional, the CoC\u2019s and the Committee of Creditor\u2019s Advisor with any further information as may be requested by them.<\/p>\n<p>In case any of the provisions of this resolution plan are in contradiction to the Request for Resolution Plan (Process Memorandum) &amp; Evaluation Matrix issued by the Resolution Professional, then the terms of this resolution plan shall prevail.<\/p>\n<p>Yours faithfully<\/p>\n<p>\u2026\u2026\u2026\u2026. (Name of the applicant) Place<\/p>\n<p>Date<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Concerns_over_Byjus_insolvency_proceedings_by_seeking_a_formal_investigation_By_IBBI\"><\/span><span style=\"color: #000080;\">Concerns over Byju\u2019s insolvency proceedings by seeking a formal investigation By IBBI\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p class=\"\" data-start=\"0\" data-end=\"429\">Aakash Educational Services Ltd, backed by billionaire Ranjan Pai, has escalated its concerns over Byju\u2019s insolvency proceedings by seeking a formal investigation by the Insolvency and Bankruptcy Board of India. The petition filed before the National Company Law Tribunal (NCLT) suggests alleged discrepancies in the insolvency resolution process of Byju\u2019s parent company, Think &amp; Learn Pvt. Ltd.\u00a0AESL has named key entities involved in the process, including:<\/p>\n<ul data-start=\"497\" data-end=\"751\">\n<li class=\"\" data-start=\"497\" data-end=\"561\">\n<p class=\"\" data-start=\"499\" data-end=\"561\">Former Interim Resolution Professional Pankaj Srivastava<\/p>\n<\/li>\n<li class=\"\" data-start=\"562\" data-end=\"619\">\n<p class=\"\" data-start=\"564\" data-end=\"619\">Current Resolution Professional Shailendra Ajmera<\/p>\n<\/li>\n<li class=\"\" data-start=\"620\" data-end=\"670\">\n<p class=\"\" data-start=\"622\" data-end=\"670\">Glas Trust Company (one of Byju\u2019s lenders)<\/p>\n<\/li>\n<li class=\"\" data-start=\"671\" data-end=\"751\">\n<p class=\"\" data-start=\"673\" data-end=\"751\">Corporate Affairs Ministry, IBBI, &amp; Registrar of Companies<\/p>\n<\/li>\n<\/ul>\n<p class=\"\" data-start=\"753\" data-end=\"1019\">This move highlights increasing scrutiny over Byju\u2019s financial troubles, particularly regarding its corporate governance and insolvency handling. Given AESL\u2019s past acquisition by Byju\u2019s, this development could have significant legal and financial implications.<\/p>\n<p><strong>Other Popular blog:-<\/strong><\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/overviews-of-principles-of-avoidable-preferential-transactions-ibc-2016\/\">Overviews of Principles of Avoidable Preferential Transactions IBC-2016<\/a><\/p>\n<p><a href=\"https:\/\/carajput.com\/services\/how-does-the-role-of-resolution-professional-help.php\">How does the Role of Resolution Professional help under IBC<\/a><\/p>\n<p><a href=\"https:\/\/carajput.com\/learn\/quick-review-on-insolvency-and-bankruptcy-code.html\">quick overview of IBC<\/a><\/p>\n<p><span style=\"color: #000080;\"><strong>Popular blog:-\u00a0<\/strong><\/span><strong>You may also know more about 29A certificate\u00a0<\/strong><\/p>\n<ul>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/learn\/section-29a-certification-services-under-ibc.html\">29A Cerificate under the IBC law<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/section-29a-of-ibc-2016\/\">Related party under section 29a of ibc Code<\/a><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/ibc-laws-critical-analysis-of-section-29a-of-the-code.pdf\">Section 29A of IBC act<\/a><\/span><\/li>\n<li><a href=\"https:\/\/carajput.com\/press-releases\/ibbi-uploading-of-judicial-orders-related-to-ibc-proceedings-by-ip.pdf\">IBBI: Uploading of judicial orders related to IBC Proceedings by IP &#8211; <\/a><a href=\"https:\/\/ibbi.gov.in\/uploads\/legalframwork\/ef3fb678992457e435db462881bfd258.pdf\">Link\u00a0<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/overviews-of-principles-of-avoidable-preferential-transactions-ibc-2016\/\">Overviews of Principles of Avoidable Preferential Transactions IBC-2016<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/services\/how-does-the-role-of-resolution-professional-help.php\">How does the Role of Resolution Professional help under IBC<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/learn\/quick-review-on-insolvency-and-bankruptcy-code.html\">quick overview of IBC<\/a><\/li>\n<li><strong><a href=\"https:\/\/carajput.com\/archives\/ip-hand-book-on-best-practices-during-cirp-process-under-ibc-code.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/archives\/ip-hand-book-on-best-practices-during-cirp-process-under-ibc-code.pdf\">IP Hand book on Best Practices during CIRP Process under IBC Code<\/a><\/strong><\/li>\n<li><a href=\"https:\/\/carajput.com\/archives\/fee-payment-structure-of-iibbi-fees-payable-to-the-ibbi-board.pdf\"><span style=\"color: #000080;\"><strong>Fee Payment structure of IBBI fees payable to the IBBI \/ Board<\/strong><\/span><\/a><\/li>\n<li><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/sale-as-going-concern-under-liquidation\/\">Sale as Going concern under liquidation\u00a0<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/liquidator-fees-to-be-paid-cirp-regulations\/\">Liquidator fees to be paid CIRP Regulations<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/liquidation-process-for-cd-under-ibc\/\">Liquidation Process for CD under IBC\u00a0<\/a><\/strong><\/span><\/li>\n<li><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/ibc-forms-insolvency-and-bankruptcy-code-2016-forms-demand-notices-returns\/\"><strong>IBC Forms Insolvency and Bankruptcy Code 2016 Forms Demand Notices Returns<\/strong><\/a><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>How to be prepared Resolution Plan under Insolvency Law \u00a0 A Model Resolution Plan. The plan is not a legislative or regulatory document and was created based on research into other approved resolution plans. The plan is not based on any provision or regulation under the code and may only be used as a guide &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8788],"tags":[10152],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23676"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=23676"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23676\/revisions"}],"predecessor-version":[{"id":29025,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/23676\/revisions\/29025"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=23676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=23676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=23676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}