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2020 (12) TMI 1247 - Tri - Companies LawSeeking appropriate directions against the Resolution Professional to reconstitute the CoC - Section 21 of I&B Code - HELD THAT:- In Anuj Jain [2020 (2) TMI 1259 - SUPREME COURT], JIL, which is the Corporate Debtor, created mortgage of its properties to the Bank, as collateral security of the debt of its holding company JAL and Hon'ble Apex Court held that the lenders of JAL could not be categorized as Financial Creditors of JIL for the purpose of the Code. Whereas in Ascot Reality Private Limited [2020 (10) TMI 962 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , NEW DELHI] the Corporate Debtor given guarantee for repayment of the debt. A careful examination of Anuj Jain [2020 (2) TMI 1259 - SUPREME COURT] and Ascot Reality Private Limited [2020 (10) TMI 962 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , NEW DELHI] shows that the facts in Ascot Reality Private Limited (supra) are akin to the facts in the instant IA and clearly support the decision taken by the Resolution Professional in categorising the respondent No.2 as Financial Creditor and giving voting rights basing on its claims. There are no merits in the application - application dismissed.
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