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2022 (8) TMI 233 - Insolvency & Bankruptcy
Seeking to convene meeting of unsecured creditors - Section 421 of the Companies Act, 2013 - HELD THAT:- The Learned PCS with the permission of this Tribunal filed Notes on Submission dated 16.06.2022, which was received on 17.06.2022 by the registry of NCLAT, Chennai. At para 18 of Page 3, it is stated that all the unsecured creditors (49) have been fully paid. From the list as enclosed and from the Notes of Submission, it is unequivocal that the unsecured creditors have been paid fully.
Since the unsecured creditors have been fully paid and no other issue involved in this Appeal, therefore, this Tribunal comes to a resultant conclusion that no meeting of unsecured creditors is warranted.
The direction passed by the NCLT dated 01.06.2022 with regard to convening the meeting of unsecured creditors of Appellant No.1 (Demerged Company) is dispensed with - Appeal allowed.