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2019 (11) TMI 842 - AT - Insolvency and BankruptcyCross Border Insolvency Protocol - participation of the ‘Dutch Trustee’ (Administrator) in the meeting of the ‘Committee of Creditors’ - HELD THAT:- In the present case, we make it clear that the ‘Committee of Creditors’ have no role to play as the agreement reached between the ‘Dutch Administrator’ and the ‘Resolution Professional’ of India is on the basis of the direction of this Appellate Tribunal. In spite of the same, unfortunately the ‘Committee of Creditors’ interfered with the matter and put its view to the ‘Resolution Professional’ resulting into difference of the suggestions. ‘The Dutch Trustee’ is equivalent to the ‘Resolution Professional’ of India, therefore, as per law he has a right to attend the meeting of the ‘Committee of Creditors’. However, as we do not want to overlap the power between one and other, we are of the view that the suggestion given by the ‘Dutch Trustee’ (Administrator) as shown in its ‘Clause 6.1.2’ should be part of the Agreement – ‘Cross Border Insolvency Protocol’. Therefore, we direct to insert ‘Clause 6.1.2, as suggested by the ‘Dutch Trustees' - The ‘Dutch Trustee (Administrator) will work in co-operation with the ‘Resolution Professional of India’ and, if any, suggestion is required to be given, he may give it to the ‘Resolution Professional’. The impugned order dated 20th June, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench in so far it relates to the observations that the ‘Dutch Court’ has no jurisdiction in the matter of ‘corporate insolvency resolution process’ of ‘Jet Airways (India) Limited, (Offshore Regional Hub) is set aside - appeal disposed off.
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