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2021 (7) TMI 1292 - AT - Insolvency and BankruptcyActing as per Resolution plan or not - Resolution Plan provided that NCDs would be issued - whether instead of paying cash, NCDs could be issued? - HELD THAT:- Considering the exceptional facts of present matter the Impugned Order is stayed till the next date and status quo ante as before passing of the Impugned Order is directed to be maintained. Resolution Professional will continue to manage the Corporate Debtors as per provisions of IBC till the next date. Respondents in both these Appeals to file Reply-Affidavits within two weeks. Rejoinder, if any, may be filed within a week, thereafter. Parties to file brief 'Written-Submissions' not more than three pages and 'Copies of Judgments' which they want to refer or rely on, within three weeks - List both these Appeals 'For Admission (After Notice)' hearing on 07th September, 2021.
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