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2021 (9) TMI 1332 - Tri - Insolvency and BankruptcyAcceptance of EOI - seeking to declare Applicant as a prospective resolution applicant in terms of Regulation 36A of CIRP Regulations - seeking to issue a fresh Form G inviting EOI - seeking restraint on CoC from proceeding ahead on the current rushed up process, thereby obtaining and approving any other resolution plan without considering the Resolution Plan of the Applicant - HELD THAT:- It is seen from the record that the RP and CoC allowed other group Companies of M/s. Jindal Power Ltd., to submit the Resolution Plan changing Form-G, although that group Company was not a Resolution Applicant at all. Even the Resolution Plan submitted by the group company of M/s. Jindal Power Ltd. is still under consideration by CoC. The Applicant approached the CoC and requested them to allow to submit the Resolution Plan, in view of the changed circumstances, but, CoC did not consider the prayer. It is to be noted that the Applicant has already submitted the EOI vide emails dated 28.06.2021 and 04.07.20201 along with its Net worth certificate showing its desire to submit the Resolution Plan. The RP has not controverted the eligibility of the Applicant on the basis of any criteria as laid down under RFRP. It appears that CIRP period is already over but since one plan is pending and since there is likelihood of Resolution of Insolvency of Corporate Debtor, we did not pass order of Liquidation - the RP and CoC are directed to allow the Applicant to submit the Plan on the basis of amendment of Form - G on which the Group Companies of M/s. Jindal power Ltd. were allowed to submit the plan. Application disposed off.
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