31. (1) If the Adjudicating Authority is satisfied that the resolution
plan as approved by the committee of creditors under sub-section (4) of
section 30 meets the requirements as referred to in sub-section (2) of
section 30, it shall by order approve the resolution plan which shall be
binding on the corporate debtor and its employees, members, creditors,
guarantors and other stakeholders involved in the resolution plan.
(2) Where the Adjudicating Authority is satisfied that the resolution plan
does not confirm to the requirements referred to in sub-section (1), it may,
by an order, reject the resolution plan.
(3) After the order of approval under sub-section (1),-
(a) the moratorium order passed by the Adjudicating Authority under section
14 shall cease to have effect; and
(b) the resolution professional shall forward all records relating to the
conduct of the corporate insolvency resolution process and the resolution
plan to the Board to be recorded on its database.