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2022 (12) TMI 616 - AT - Insolvency and BankruptcyInitiation of CIRP - Period of limitation - approval of Resolution Plan - distribution of the amount to the Financial Creditors - HELD THAT:- When the challenge to the Section 7 application filed by the Appellant on all grounds has been rejected by the Hon’ble Supreme Court, the Appellant cannot be permitted to challenge initiation of CIRP on the ground of limitation in this Appeal. The Appellant cannot be heard to say that initiation of CIRP itself was bad. What is challenged in this Appeal is approval of Resolution Plan by order dated 14.02.2020 and subsequent order passed on the I.A. of the Resolution Professional. Distribution of the amount to the Financial Creditors as per the decision of the CoC cannot be permitted to be challenged. - Judgment of Hon’ble Supreme Court in “India Resurgence ARC Pvt. Ltd. vs. Amit Metaliks Ltd. & Anr. [2021 (6) TMI 684 - SUPREME COURT]” followed. Appeal dimissed.
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