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2019 (9) TMI 1726 - AT - Insolvency and BankruptcyAllocation for payment in favour of Financial Creditor - Revised Resolution Plan under Section 12A is under consideration before the Committee of Creditors - HELD THAT:- The Appellant and the Promoters during the discussion in the meeting of ‘Committee of Creditors’ may give fresh proposal for payment and the amount to be paid to all the similarly situated ‘Financial Creditors’ and ‘Operational Creditors’. If no revised proposal equating all the ‘Financial Creditors’ and ‘Operational Creditors’ is submitted by 12th September, 2019, this Appellate Tribunal will not allow further time to the Appellant and will proceed in the matter on merit. In case a revised proposal as per our observation is submitted by 12th September, 2019, the ‘Committee of Creditors’ will consider the same and will ensure that no discrimination is made between equally situated ‘Financial Creditors’, ‘Operational Creditors’ and ‘Creditors’ and pass appropriate order by 26th September, 2019. Post the case ‘for order’ on 30th September, 2019.
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