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2019 (7) TMI 1711 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHValidity of dealings with MCGM, CoC, RP & the Resolution Applicants - direction to Respondent No. 1 to 4 to place the entire correspondence, discussions, minutes of meeting, documents exchanged between MCGM on one hand and COC, RP & Resolution Applicants including Respondent No. 4 & 4(a) on the other before this Adjudicating Authority - HELD THAT:- On 29.04.2019, MCGM has filed a memo expressing No objection to the proposed Resolution Plan submitted by the Resolution Applicant provided the Conditions stipulated in para 11 of the Written Submissions of MCGM are incorporated in the Resolution Plan, although at this juncture, the MCGM took a contradictory stand, the same has no relevance in the present Application - The Comments/suggestions/objections of the said Nominee Directors were also duly considered by the CoC and eventually the proposed Resolution Plan dated 09.09.2018 was reaffirmed by the CoC. It is appropriate to bear in mind the Law laid down by Hon'ble NCLAT that once an Application for Approval of a Resolution Plan is filed before the Adjudicating Authority, Applications that do not allege that the Resolution plan approved by the CoC contravenes section 30 of IBC are not maintainable - In the present case on hand, except a bald allegation that Section 30(2)(e) of IBC, 2016 has not been followed, No material evidence is placed before this Adjudicating Authority to substantiate such claim. This Adjudicating Authority is of the view that the Applicant has no locus standi to seek such prayers and even otherwise, there are no merits in the Instant Application which warrant the indulgence of this Adjudicating Authority for granting the reliefs prayed therein - Application dismissed.
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