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Opportunity given to ‘resolution applicants’ to revise their offer before final approval is permissible in law

February 6, 2019[2019] 102 103 (NCL-AT)

I&B Code: Grant of more opportunity than one to all eligible 'Resolution Applicants' to revise their 'financial offers', before final approval of plan is permissible in law, provided, all such processes are completed within time frame as provided

I&B Code: Under sub-section (4) of section 30, 'Committee of Creditors' is required to approve a 'Resolution Plan' by a vote of not less than sixty-six per cent only after considering its feasibility and viability; voting shares of those members of Committee of Creditors who are absent cannot be counted

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