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2020 (8) TMI 454 - AT - Insolvency and BankruptcyCIRP process - it is alleged that Appellant did not file any claim as ‘operational creditor’ or ‘financial creditor’ and appellant does not come within the meaning of ‘creditor’ - HELD THAT:- The Appellant is neither ‘operational creditor’ nor ‘financial creditor’ or ‘secured creditor’ or ‘unsecured creditor’ or a ‘decree-holder’. Therefore, in the present case, the Appellant’s claim is not a security interest or any other right as ‘operational creditor’ or ‘financial creditor’ and the appeal can be filed against approval of a plan by any aggrieved person o any ground, mentioned in subsection (3) of Section 61 of the ‘I&B Code. There is nothing on record to show that the approved resolution plan is in contravention of the provisions of any law for the time being in force or there has been any material irregularity in exercise of the powers by ‘Resolution Professional’ (i) during the corporate insolvency resolution period; it is not the case of the Appellant that (ii) the ‘debt’ owed to the operational creditors of the corporate debtor have not been provided in the resolution plan in the manner specified by the Board; or (iii) the insolvency resolution process costs have not been provided for repayment in priority to all other debts; or (iv) resolution plan does not comply with the criteria specified by the Board - As none of the criteria fulfils in this appeal, Section 61(3) of the ‘I&B Code’ is not attracted. Appeal dismissed.
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