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2021 (9) TMI 1028 - Tri - Insolvency and BankruptcyLegality of action of the RP in including the claim under an expired bank guarantee by the financial creditor - seeking to declare that the claim of the financial creditor under the bank guarantee which is the subject matter of dispute pending, as inadmissible - seeking to declare the entire meeting conducted by the Committee of Creditors - validity of meetings conducted by the Resolution Professional - discharge of dues under the term loan - seeking to recall the order of liquidation - seeking release of refund of excess tax remitted - HELD THAT:- The Corporate Insolvency Resolution Process stood completed by the decision of CoC to liquidate the Corporate Debtor and the liquidation is in progress. Liquidator was promptly filing the progress reports in the Liquidation process before this Tribunal. At this stage, the applicant cannot turn around and question the process adopted by the IRP/RP or the Liquidator. From the verification of the earlier proceedings of this matter, it is seen that the Suspended Directors are not at all co-operating in the CIR Process and they were only on the lookout of creating hurdle to the continuation of CIR Process. Moreover, the applicant herein is a shareholder of the Company and as rightly pointed out by the Respondent No.2 he is not entitled to claim any relief against the CoC or the conduct of the CIRP. Without attending the meeting conducted by the IRP/RP, they are making bald allegations against the conduct of the CoC meetings. Their challenge to the order of admission of the application before the Hon’ble NCLAT and the appeal against the order before the Hon’ble Supreme Court was failed. Application dismissed.
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