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2023 (12) TMI 128 - AT - Insolvency and BankruptcyService of notice - It is the main case of the Appellant that failure to provide an accurate Notice to the 11th CoC Meeting dated 14/12/2022 and the failure to provide Notice to e-voting of the Resolution Plan is in contravention of Regulations 21, 24 and 26 of the IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016 - HELD THAT:- The Appellant herein cannot be said to be prejudiced or his legal right having been injured on account of the Appellant not attending the 11th CoC Meeting at 3.00 p.m. Be that as it may, there are force in the contention of the Learned Counsels for the Respondents that the change in the timing was also intimated and it was the Appellant who did not choose to join the link. The voting sheet enclosed with the material on record establishes that Regulation 26 of the IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016 was not violated. Section 25 (2) and Regulation 21 have been complied with by the Respondents as the contents of the Notice for the Meeting and presenting all Resolution Plans at the Meetings of the CoC was duly done by the RP. Therefore, there was no violation of any Regulation of the IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016 to warrant interference in the approval of the Resolution Plan. Applicability of the ratio in the matter of Vijayakumar Jain Vs. Standard Chartered Bank [2019 (2) TMI 97 - SUPREME COURT] is applicable to the facts of this case - HELD THAT:- It is held in Vijaykumar Jain that the Law must ensure that access to this information is made available to all Creditors to the Enterprise, directly or through the RP. In the attendant case, the Appellant was well aware of the Resolution Plan and was part of all the discussions with respect to the evaluation matrix. It is significant to mention that the Appellant had not made any request seeking for the Copy of the Resolution Plan, which is not the case in the facts of the matter of Vijaykumar Jain - the ratio of Vijaykumar Jain cannot be made squarely applicable to the facts of the attendant case on hand. There is no prejudice or injury to any legal right caused to the Appellant herein and there are no illegality or infirmity in the Common Impugned Order dated 05/07/2023, passed by the Adjudicating Authority and hence, these Appeals fail and are accordingly dismissed.
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