2018 (7) TMI 1854

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Insolvency & Bankruptcy
Hon'ble Mr. Justice R.P. Nagrath, Member (Judicial) and Hon'ble Mr. Pradeep R. Sethi, Member (Technical) For the applicant : Mr. Muneesh Malhotra, Advocate, Mr. Vikram Minhas, Advocate For the respondent : Mr. Atul V. Sood, Advocate, Mr. Sanjay Dewani, Resolution Professional ORDER CA No. 196/2018 CP (IB) NO. 35/Chd/HP/2017 filed by the financial creditor .....

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..... ervener so that he can properly assist this Tribunal. The learned counsel for the Resolution Professional vehemently opposed the prayer for supply of copy of the Resolution Plan mainly on the ground that the Plan was approved by the Committee of Creditor with 100% voting in favour of the Plan and the applicant has no role to play in this process. 3. We have heard the learned counsel for the appli .....

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..... f Committee of Creditors to (a) members of Committee of Creditors; (b) members of the suspended Board of Directors or the partners of the corporate persons as the case may be and (c) operational creditors or their representatives if the amount of their aggregate dues is not less than ten percent of the debt. 5. If the member of the suspended Board of Directors have a right to participate in the m .....

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..... the right to participate cannot be extended to the extent of a direction to the Resolution Professional to supply copy of the Resolution Plan. Since the applicant has been allowed to participate, he can inspect the records for the purpose of assisting this Tribunal. 8. In view of the above, the application is partly allowed permitting the applicant to intervene whereas the prayer for a direction .....

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