Question

19 Plans can be accepted or rejected by

A. President of India B. Prime Minister of India

C. Cabinet Committee D. Indian Parliament​

Answer 1

Answer:

B.Prime Minister of India.

Explanation:

The answer is given above.

Answer 2

Answer:

The Prime Minister of India has the authority to accept or reject 19 plans.

Explanation:

Short facts

The Rajputana Properties Pvt. Ltd.'s Resolution Plan was accepted by the COC. ignoring other Resolution Plans, such as Ultratech Cement Ltd.'s, that are compliant with Section 30(2) in order to engage in discussion and maximize asset value.

Held

• It is evident that all "Resolution Plans" that adhere to Section 30(2) of the I&B code must be submitted to the COC before the Resolution Professional can review them.
• The COC is then free to negotiate and modify the Resolution Plan with the resolution applicant's consent, with the exception of the requirement that the CIRP be completed within 180 or 270 days.
• Before the plans are approved by the adjudicating authority, the COC has the power to accept or reject one or more of them.

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