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AA was right in directing successful resolution applicant to enhance their fund inflow upfront: SC

January 23, 2020[2020] 113 421 (SC)

IBC: Where once a resolution plan has been approved by committee of creditors statutory mandate on Adjudicating Authority under section 31(1) is to ascertain that a resolution plan meets requirement of sub-sections (2) and (4) of section 30 thereof and there is no provision in Code or Regulations that bid of any resolution applicant has to match liquidation value

IBC : A resolution applicant cannot withdraw its resolution plan once submitted as, exit route prescribed in section 12A is not applicable to a resolution applicant

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