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2021 (3) TMI 1451 - AT - Insolvency and BankruptcyDismissal of Resolution Plan already approved - failure to appreciate the fact that the COC did not consider the Resolution Plan of higher value submitted by Dr. Rajendar Singh viz. Rs. 32 Crores and approved the Resolution Plan of Successful Resolution Applicant having value of Rs. 30.10 Crores - HELD THAT:- Since the Appellant himself was not in the fray and as a member of the suspended Board of Directors was ineligible to submit a Resolution Plan, he could not be permitted to espouse cause of Unsuccessful Resolution Applicant thereby trying to meddle with the affairs of the Corporate Insolvency Resolution Process (CIRP) when the law forbids it to participate in such process. That apart, the Resolution Plan of the Successful Resolution Applicant has already been approved by the COC and is pending approval before the Adjudicating Authority. The Appellant having no locus and being ineligible to participate in the CIRP besides having no legal authority to espouse the cause, if any, of the Unsuccessful Resolution Applicant, cannot maintain the instant appeal. The Appellant is an alien who cannot enter the ring and participate in the CIRP Proceedings. The appeal is accordingly dismissed for being not maintainable.
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