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2022 (5) TMI 1311 - AT - Insolvency and BankruptcyApproval of Resolution plan - submission which have been much pressed by the learned Counsel for the Appellant is the publication issued by IRP being not in compliance of Section 15 and Regulation 6(1) of 2016 Regulations - HELD THAT:- Regulation 6, sub-regulation (2) (b) provides for public announcement ‘be published’ and in sub-clause (b)(i) the public announcement should be in one English and one regional language newspaper with wide circulation at the location of the registered office and principal office, if any, of the corporate debtor and any other location where in the opinion of the Interim Resolution Professional, the corporate debtor conducts material business operations. The public announcement made in Annexure A-2, itself indicates that Claim Form can be downloaded from the website of the Board also. From the facts and pleadings as noted above, it is clear that the publication was made not only at the registered and corporate office of the Corporate Debtor, but several other places at Kolkata, Guwahati, Shilong and Itanagar etc. In regional newspaper, publication was made at Guwahati, Jorhat and Lakhimpur where registered office and factory premises of the Corporate Debtor was situated. The publication, thus, was not only confined to registered office and corporate office of the Corporate Debtor, but publication was made at other locations also, where in the opinion of IRP, Corporate Debtor conducts material business operations - The statutory requirement cannot be stretched to mean that publication has to be made from all places where the Corporate Debtor is receiving goods and supplies. The mandatory requirement is to publish in one English and one regional newspaper with wide circulation at the location of the registered and corporate office of the Corporate Debtor and any other location, where in the opinion of the IRP the Corporate Debtor conducts material business operations. The IRP has made publication at other places as noted above, which indicates that there is compliance of requirement of Regulation 6, sub-regulation (2)(i). It is further noticed that there was compliance of Regulation 6(2)(ii) and (iii), since the publication was uploaded on the website of the Corporate Debtor as well on the website of the Board. There are no error in the publication made by the IRP under Section 15 read with Regulation 6(1) of 2016 Regulations - appeal dismissed.
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