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2022 (5) TMI 207 - HC - Insolvency and BankruptcyWhether a public sector, i.e., State Government undertaking like appellant-Maharashtra State Electricity Distribution Company Limited (MSEDCL) is not made to fund the restructuring proposal of Lavasa Corporation Limited? - HELD THAT:- Mr. Sancheti states that during a meeting held on 22.4.2022, COC has decided not to pay anything more to ‘MSEDCL’ but at the same time, Mr. Sancheti assures this Court that he will try his best to make an effort to speak to members of the COC and find out if they would be willing to change or alter the decision that they have taken on 22.04.2022. Mr. Sancheti states that COC comprises of 18 members and it would take some time to hold the meeting - In today’s time and age of video conferencing one can hold meeting on emergency basis over video conferencing if they are unable to congregate at one place. COC is directed to hold a meeting not later than 9.00 a.m. on 2.5.2022 and give instructions to Mr. Sancheti. No further time will be given to COC on next date and this Court shall proceed to hear the matter and pass such orders as it deems fit. Chitra Sonawane. In reference to the request by Mr. Sancheti, matter be listed on board at 3.30 p.m. on 2.05.2022.
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