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2021 (5) TMI 404 - HC - Insolvency and BankruptcyValidity of unilateral changes made to the Resolution Plan - implementation of Resolution Plan - HELD THAT:- The conclusions arrived in the Joint Lenders Meeting held on 19th and 27th of March, 2020, have not been taken to the logical end by the respondent Banks either in the form of an agreement/contract and it would mean that there is no contractual obligation between the petitioner and the respondents for enforcement of the conclusions arrived in the Joint Lenders Meeting held on 19th and 27th of March, 2020. If those conclusions are to be acted upon, more money has to be pumped in pursuant to the conclusions and this Court cannot give any mandamus to pump in money to revive the petitioner Company, more so when there is no agreement or contract entered in pursuance of the conclusions which were arrived in the Joint Lenders Meeting held on 19th and 27th of March, 2020. It is for the respondent Banks to take a decision as to whether the petitioner Company should be revived and whether additional money has to be pumped in by them, but this Court cannot give a direction to take forward the conclusions arrived in the Joint Lenders Meeting held on 19th and 27th of March, 2020, to the logical end. This Court is not inclined to interfere with the impugned letter and the writ petition is liable to be dismissed - Petition dismissed.
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