Section 39(3) in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
(3)[ The committee shall evaluate the resolution plans received under sub-regulation (1) strictly as per the evaluation matrix to identify the best resolution plan and may approve it with such modifications as it deems fit:] [Substituted by Notification No. IBBI/2018-19/GN/REG031, dated 3.7.2018 (w.e.f 30.11.2016).][Provided that the committee shall record its deliberations on the feasibility and viability of the resolution plans.] [Substituted by Notification No. IBBI/2019-20/GN/REG048, dated 25.7.2019 (w.e.f 30.11.2016).][***] [Omitted '(3A) The committee shall, while approving the resolution plan under sub-section (4) of section (30), specify the amounts payable from resources under the resolution plan for the purposes under sub-regulation (1) of regulation 38.' by Notification No. IBBI/2018-19/GN/REG032, dated 5.10.2018 (w.e.f. 30.11.2016).]
