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2019 (9) TMI 1452 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHDirection to Resolution Professional/Respondent to issue a copy of the Resolution Plan so approved by the CoC - It is submitted that the Applicant has no right in the capacity of Operational Creditor to seek a copy of the Resolution Plan since the debt of the Applicant is less than ten percent - HELD THAT:- It is clearly provided in Sec. 24(3)(c) of the Code that only such Operational Creditors or their representative can take part in the CoC meeting whose aggregate dues are not less than 10% of the total debt of the Corporate Debtor. The provisions of Sec. 24 when read with provisions of Sec. 30(5) lead us to unescapable conclusion that while potential resolution applicant, members of ex-Board of Directors and Operational Creditors having not less than 10% of total debt of the Corporate debtor can attend the meeting while a potential Resolution Plan is considered by CoC, it does not imply that a potential Resolution Plan should be handed over to such members of ex-Board of Directors and Operational Creditors or even other Resolution Applicants. This Adjudicating Authority finds that the claim of the Applicant as collated and noticed by the resolution professional is less than 10% of the total debts of the Corporate Debtor and thus the case cited by the learned Counsel for the RP is squarely applicable in the present case - This Adjudicating Authority is of the view that the Applicant is not entitled for the Copy of the Resolution Plan. Application disposed off.
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