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2018 (7) TMI 1854 - NATIONAL COMPANY LAW TRIBUNAL, CHANDIGARHCorporate insolvency process - prayer for supply of copy of Resolution Plan to the intervener so that he can properly assist this Tribunal - Held that:- So far as the right of intervention by the applicant i.e. Promotor-Director of the suspend ed Board of Directors of the Corporate Debtor is concerned, it should not be denied in view of the scheme of the Code especially when the version of the applicant is that his investment in above corporate debtor by the Promoter-Director of the suspended Board of Directors is about ₹25 crores. If the member of the suspended Board of Directors have a right to participate in the meeting of Committee of Creditors, the right to be heard in the proceedings under the Code on the approval of Plan till these are concluded, should not be denied. The record of the case shows that the Resolution Professional has filed CA for challenging the preferential/under-valued transactions etc. In this application, notice has been issued to the Promotor- Director of the Company and Mr. Muneesh Malhotra, Advocate is already representing him as is evident from the order dated 22.05.2018 passed by this Tribunal. In the said order the Promotor-Director has been directed to supply addresses of the persons named in the application of the Resolution Professional. So the applicant, herein, is already participating in the proceedings pending before this Tribunal. The right to participate cannot be extended to the extent of a direction to the Resolution Professional to supply copy of the Resolution Plan. Since the applicant has been allowed to participate, he can inspect the records for the purpose of assisting this Tribunal. The application is partly allowed permitting the applicant to intervene whereas the prayer for a direction to the Resolution Professional to supply him a copy of the Resolution Plan is declined with liberty to the applicant to have inspection of the record having been allowed to intervene.
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