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2022 (2) TMI 1414 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIValidity of Resolution Plan - Preferential Transaction - Treatment meted under the Resolution Plan submitted by the Successful Resolution Applicant - distribution mechanism approved by the CoC in its 18th meeting of the members of CoC - abusive treatment being meted out to them under the garb of 'commercial wisdom of the CoC'. I. Whether the Adjudicating Authority erred in approving the Resolution Plan, which proposes extinguishing claim to the Fixed Deposit Holders without discharging their payments in full, contravenes the statutory provisions of the NHB Act and RBI Act? II. Whether the NHB Act or RBI Act, as the case may be, mandate the total payment to the Fixed Deposit Holders even though the corporate debtor is undergoing CIRP under the I & B Code, 2016? III. Whether section 238 of the Insolvency and Bankruptcy Code, 2016, overrides the RBI Act and NHB Act? Is the approved Resolution Plan stipulates extinguishment of the claims to the Fixed Deposits without discharging their payments in full, valid and legal in terms of the Code? IV. Whether the transactions involving repayment to Fixed Deposits Upon maturity of their deposit would fall within the ordinary course of business for Respondent No. 1, as specified under section 28(1)(k) of the Code? V. Whether Respondent No. 1 is legally authorised for disbursing loans and investments despite its failure to repay Fixed Deposit holders as per the terms of their deposits? VI. Whether any payment made against the F.D.'s in terms of their deposits during CIRP would be categorised as a preferential transaction? HELD THAT:- It is essential to point out that the issues raised in the present Appeal were also raised in the Company Appeals VINAY KUMAR MITTAL, RASHMI SHRIVASTAVA, JESUIT RESEARCH AND DEVELOPMENT SOCIETY, JIV PRAKASH VIDYAPEETH, INDIAN SOCIAL INSTITUTE, THE NAGALAND JESUIT EDUCATIONAL AND CHARITABLE SOCIETY, THE DELHI JESUIT SOCIETY, AMAR SEVA SAMITHI, PRESENTATION SOCIETY OF INDIA, BHOLA DEVELOPERS PVT LTD AND OTHERS VERSUS DEWAN HOUSING FINANCE CORPORATION LTD, RESERVE BANK OF INDIA, COMMITTEE OF CREDITORS OF DEWAN HOUSING FINANCE CORPORATION LIMITED AND OTHERS. [2022 (1) TMI 1412 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI]. These appeals were also filed against the same Resolution Plan by the fixed deposit holders of DHFL, raising the same issues. We have already decided on the Appeals mentioned above with detailed orders on the issues raised here. Therefore, we do not think it proper to decide again the same issues raised in the present Appeal. Impugned Order needs no interference - appeal disposed off.
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