Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2018 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (11) TMI 251 - AT - Insolvency and BankruptcyCorporate insolvency procedure - non implement of the ‘resolution plan’ with amendments - Main grievance was that the appellant – ‘SREI Infrastructure Finance Ltd.’ has not been treated equally with other ‘Financial Creditors’ - Held that:- As ‘successful resolution applicant – Ghanshyam Misra & sons Pvt. Ltd.’ and the learned counsel appearing on behalf of the ‘Committee of Creditors’ have no objection if the ‘resolution plan’ is modified to the extent above. In the circumstances, we modify the ‘resolution plan’ as approved by the Adjudicating Authority so far it relates to the payment of amount to the appellant – ‘SREI Infrastructure Finance Limited’ who will be entitled the amount already proposed in the ‘resolution plan’ plus(+) additional differential amount of ₹ 94 Lakhs, as stated in the affidavit, on the same terms & conditions as proposed in the ‘resolution plan’. We allow the parties to implement the ‘resolution plan’ with amendments as shown above and to make payments. So far as ‘IFCI Bank’ is concerned, they had not raised any objection before the Adjudicating Authority and having voted in the favour of the ‘resolution plan’, we are not granting any relief to the Respondent ‘IFCI Bank’.
|