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2022 (6) TMI 209 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHApproval of Resolution Plan - Seeking reconsideration of resolution plan submitted by the resolution applicant within the parameters of the provisions of the Code as required under regulation 39(3) of the CIRP Regulations, 2016 - alternatively seeking to place a revised resolution plan in consultation with the Committee of Creditors for the resolution of the Corporate Debtor - HELD THAT:- In the present case it is undisputed fact the Resolution Plans submitted by both the PRAs have been rejected by CoC. It is well settled that evaluation and acceptance of a resolution plan is exclusive domain of CoC who is expected to apply best of its commercial wisdom and arrive at appropriate decision. Further, RP is agreed upon that unsuccessful Resolution Applicant does not have any vested right for consideration or approval of its resolution plan. Accordingly, having regard to the judgment of Hon'ble Apex Court in Arcelormittal India Private Limited v. Satish Kumar Gupta & Ors. [2018 (10) TMI 312 - SUPREME COURT] and submissions made by RP, there are no merits in contentions of the Applicant in present. Application dismissed.
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