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2020 (9) TMI 13 - Tri - Insolvency and BankruptcyLiquidation of Corporate Debtor - section 33(1)(a) of the IB Code - difference of opinion - Hon'ble Member (Judicial), Mr. Harihar Prakash Chaturvedi passed order allowing the application filed by the RP under section 33(1)(a) with a specific observation that the RP shall continue as liquidator and shall take steps as provided in the provision of the Code. However, the Hon'ble Member (Technical), Mr. Prasanta Kumar Mohanty has not agreed with the order so passed by the Hon'ble Member (Judicial) and accordingly he has given his different observation/opinion with regard to the admission of the application filed under section 9 of the IB Code. HELD THAT:- The instant application i.e. IA 793/2019 deserves to be allowed in view of the decision passed by the Hon'ble Supreme Court in the matter of K. Sasidharan Vs. Indian Overseas Bank & Ors. [2019 (2) TMI 1043 - SUPREME COURT] where it was held that the commercial wisdom has been exercised by the COC after taking into count all the factors leading to maximisation of asset value of the Corporate Debtor, but the ultimate discretion of what to pay and how to pay each class or sub-class of creditors lies with the COC - The said decision is also relied upon by the Hon'ble Member (Judicial), Mr. Harihar Prakash Chaturvedi, while passing the order. I concur with the order so passed by the Hon'ble Member (Judicial) and accordingly the application so filed by the RP is allowed.
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