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2022 (3) TMI 947 - NATIONAL COMPANY LAW TRIBUNAL , CHENNAI BENCHRejection of Scheme of Arrangement/Compromise - HELD THAT:- The Scheme submitted by the Applicant in the present case was already considered by one of the major stakeholders in respect of the Corporate Debtor viz. Maximus ARC Limited and the same was rejected. Further, in any case in the stakeholders Consultation Committee held on 17.11.2020, the Stakeholders have decided to go for e-auction of the sale of the assets of the Corporate Debtor and has categorically stated that Liquidator need not wait for any Schemes since it would delay the completion of the Liquidation Process. The Liquidator was right in rejecting the Scheme of Compromise propounded by the Applicant - petition dismissed.
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