Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2022 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (10) TMI 930 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , CHENNAIApproval of Resolution Plan - grievance of the Petitioner / Appellant / Resolution Applicant is that the Adjudicating Authority was misled by the Resolution Professional and the Resolution Plan, submitted by the Resolution Applicant was not placed before the Committee of Creditors or the Tribunal - HELD THAT:- On going through, the contents of the Minutes of the Meeting of the Committee of Creditors (M/s. Bhuwalka Steel Industries Limited dated 18.02.2020), is of the considered view that the Resolution Plan furnished by the Petitioner / Appellant / Resolution Applicant was given necessary consideration during numerous Committee of Creditors Meetings and that, the Respondent Nos. 1 and 2 gave adequate opportunity to the Petitioner / Appellant / Resolution Applicant, to present its Proposal to the Committee and after elaborate negotiations, the Committee had considered the Resolution Plan, submitted by the Successful Resolution Applicant Viz. Starteck Finance Limited, as a viable one. In the teeth of Lack of Bonafide, on the part of the Petitioner / Appellant, the leave sought in Company appeal, in preferring the instant Appeal sans merits - appeal dismissed.
|