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2022 (4) TMI 14 - AT - Insolvency and BankruptcyParity between class of Operational Creditors and class of Financial Creditors - great disparity between the amount offered to the Operational Creditors as compared to payment of dues offered to the Financial Creditors - HELD THAT:- In the present case, there is payment of different percentages to the Financial Creditors and the Operational Creditors. The Appellant’s case is not that they are getting payment which is less than the liquidation value to which they are entitled under Section 53 r/w Section 32. The Hon’ble Supreme Court in Essar Steel India Ltd. Committee of Creditors vs. Satish Kumar Gupta [2019 (11) TMI 731 - SUPREME COURT] has occasion to consider this very issue and held that equality should be looked into with regard to same class of creditors. It is also held that there cannot be equality between class of Operational Creditors and class of Financial Creditors. The Appellant cannot claim any parity in payment offered to the Financial Creditors - there are no arbitrariness and inequality vitiating the order passed by the Adjudicating Authority - appeal dismissed.
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