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2020 (1) TMI 1180 - AT - Insolvency and BankruptcyLiquidation of Corporate Debtor - HELD THAT:- In the interest of the stakeholders/financial creditors, operational creditors (employees) if the period of compliance of both the ‘resolution plans’ of Adhunik Metaliks Ltd.’ (one ‘Corporate Debtor) and ‘Zion Steel Ltd.’ (another ‘Corporate Debtor’) are extended, who otherwise will suffer ‘Liquidation’, we allowed the ‘Successful Resolution Applicant’ - Adhunik Metaliks Ltd.’ to file undertaking giving timeframe of compliance of both the plans by depositing the amount as offered in their approved plans. Once the total amount is deposited, this Appellate Tribunal will consider the rest of the proposal as made in paragraph 7, and quoted above and will pass appropriate order - Place these appeals ‘for orders’ on 17th February, 2020 before the 1st Bench on the top of the list.
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