Resolution Plan under IBC 2016

Resolution Plan has an important place in IBCode : It has different category compared to Liquidation value of asset : whether the resolution plan can be lower then the liquidation value of asset ?: this has been discussed by apex court in the case of K Shashidhar vs Indian overseas Bank and held that there is no prohibition to approve the resolution plan which is lower then the liquidation value of asset : Financial creditors and operational creditors are being given equitable treatment : Apex court held in the case of Swiss Ribbons about equitable treatment : This has been rectified by amendment in law on 16/8/2019 in sec 30 of IBC which directs that lenders operational creditor should not be given the amount less then the liquidation value of asset :whether they are dissented to the resolution plan : The another judgement of apex court Maharastra seamless Ltd vs Padmanabhan Venkatesh decided on dt 22/1/20 it was held that there is no requirement in code about similarity of amount of resolution plan with Liquidation value  of asset : similarly it was held by apex court in the case of Essar steels India Ltd vs Satish Kumar Gupta that there is limited  power of judicial review available to adjudicating authority in connection of resolution plan approved by COC ; So far as resolution plan approved by adjudicating authority is concerned it is mandate under sec 31 of IB code that it should be approved in terms of sec 30 (2)  :& 30(4) .

Tips of IBC code 2016

Initiation of corporate insolvency resolution process (CIRP) by financial creditor (under sec 7 of code), operational creditor (under sec 9 of code) or corporate applicant ( under sec 10 of code) should     be filed with an application under sec 60(5) of the code read with rule 11 of NCLT rules 2016 requesting to court for restraining the corporate debtor from alienating ,encumbering or creating any third party interest on the assets of the corporate debtor till the time insolvency petition is not adjudicated upon by NCLT : This is the first tip to restrain debtor for keeping the assets safe until the CIRP to be completed :

Abdominal fire

Abdominal fire required for digesting food : Decrease of abdominal fire gives gases in stomach and number of diseases rises irrespective of persons age : Abdominal fire is a must from child to old person : Some kind of natural medicines which are applicable to young and old age person and which is freely available : Number of persons used to waist money for the cure of stomach gases and it’s cure is very simple and no side effect : Our food when not digested it creates gases which not controlled it makes and disable the function of body : when food not digested the further juice blood marrow seamen function would not be properly functioned : Thus to see our body function is needed for our health :Medicines is not proper remedy for increase of abdominal fire : This is medicine now being recommended and placed in the line of turmeric ,tinospora cordifolia (giloy) : In Indian dishes it’s a part of our kitchen:  we are searching medicines for our stomach and it’s cure lies in our kitchen which is very simple cure for decrease of abdominal fire : This abdominal fire is a origin for a good health and we goes to doctors for it’s cure where no cure is possible : Take small piece of ginger and add jaggery of one spoon and crake paste and take it before half an hour of taking meal and use it for a week or as you like it : it has no side effect and your abdominal fire would be balanced