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2020 (10) TMI 265 - NATIONAL COMPANY LAW TRIBUNAL , PRINCIPAL BENCH, NEW DELHIDirection against the RP to pass a reasoned order regarding verification of outstanding claims - HELD THAT:- It is the bounden duty of the RP to give reasons when claim has been rejected, for there being no proof reflecting the RP has given reasons for rejection of the part of the claim of the Applicant herein, the RP is hereby directed either to admit the claim or to give reasons as to why the balance part of the claim of the Applicant is not admissible within three days hereof - Application allowed. Approval of Resolution Plan - HELD THAT:- It is not the case of this Applicant that its Resolution Plan has been rejected by the RP in violation of the procedure laid down under the Code. Interestingly, the plan has been approved unanimously with 100 % voting share of CoC which is much above the statutory requirement of 66 % in terms of Section 30(4) of the Code. The right of approval of a plan lies within the domain of CoC. Now some of the homebuyers filed an application supporting this Resolution Plan. Apart from this, Applicant has also filed a comparative chart showing that if its Resolution Plan has been considered, it will maximize the value of the Corporate Debtor. It cannot become a sole criteria to consider of the Resolution Plan. It is one of the component to be considered provided more than one claim has been placed before the CoC then the CoC will consider the Resolution Plan that maximize the value of the Corporate Debtor. It is not that the Plan that comes after four months with added value is to be treated as a plan for maximization the value of the Corporate Debtor, because if this Bench considers such plan after four months, tomorrow if somebody else comes with more value than instead of considering this plan that plan has to be considered. This Bench is bound by the procedure as set out under the Code, once it is in compliance of the procedure this Bench has jurisdiction to see as to whether the plan placed before this Bench is in confirmation with Section 30(2) of the IBC or not - there are no merit in this application - application dismissed.
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