NCLAT allows appeals, sets aside NCLT Mumbai order rejecting resolution plan for KSS Limited submitted by Micro Capitals Private Limited.
NCLAT approves resolution plan providing Rs 3.01 crore against admitted claims of Rs 106 crore, finding no material violations of IBC provisions.
Tribunal holds financial creditor can submit and vote on own resolution plan under Section 30(5) proviso, rejecting nemo judex in causa sua argument.
Court finds plan compliant with payment priority to dissenting creditors, feasibility requirements, and proper treatment of statutory dues as operational debts.