TMI Blog2019 (5) TMI 1353X X X X Extracts X X X X X X X X Extracts X X X X ..... hich shall be subject to the decision of this Appellate Tribunal. Aforesaid order was passed to ensure that during the pendency of the appeal the Successful Resolution Applicant do not suffer. The Resolution Professional is required to call for the meeting of the Committee of Creditors for its decision in terms of the decision of the Adjudicating Authority, which shall be subject to the decision of these appeals. Post these appeals for admission on 27th March, 2019 at 2.00 p.m. - IA No. 1007 of 2019 In Company Appeal (AT) (Insolvency) No.242 of 2019 With Company Appeal (AT) (Insolvency) No.243 of 2019 With Company Appeal (AT) (Insolvency) No. 257 of 2019, With Company Appeal (AT) (Insolvency) No. 265 of 2019 - - - Dated:- 20-3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd para 28 of the impugned judgement which reads as follows:- 22 Therefore, in the light of the above stated discussion, we are of the view that the present application can be suitably disposed of on the basis of the alternative prayers being made by the applicant seeking for equitable distribution of amount mentioned in the ₹ 42000 Crores among the financial creditors and other stakeholders which will be considered while dealing with and disposing of the IA No. 431 of 2018. 28- In the light of the above stated discussions, present I.A. No. 431 of 2018 is conditionally allowed. The Resolution Plan submitted by Arcelor Mittal India Pvt. Ltd. being H-1, is approved, as per Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date, it was made clear that this Appellate Tribunal has not passed any interim order; meaning thereby the impugned order dated 18th March, 2019 was not stayed by this Appellate Tribunal. 7) On 18th March, 2019, this Appellate Tribunal while framed the issues also observed that if the Resolution plan is discriminatory, as observed by the Adjudicating Authority this Appellate Tribunal may modify the Resolution plan after hearing the parties, without interfering with the viability, feasibility and financial matrix of the Resolution Plan which includes upfront payment as suggested by the Resolution Applicant. 8) By the said order dated 18th March, 2019, this Appellate Tribunal also made clear that this Appellat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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