TMI Blog2019 (10) TMI 596X X X X Extracts X X X X X X X X Extracts X X X X ..... for serving them with copy of minutes of CoC meetings. The request of the Unsuccessful Resolution Applicant in MA No. 2140 of 2019 and 2141 of 2019 is hereby rejected. Application disposed off. - MA 1872/2019 & MA 2140/2019 in CP No.2054/IBC/NCLT/MB/MAH/2018 MA 2141/2019 in CP No. 1830/IBC/NCLT/MB/MAH/2018 - - - Dated:- 1-8-2019 - MR M.K. Shrawat, Member (J) For The Noble Resources International Pte. Ltd. : Sr. Advocate Shiraz Rustomjee, Shivani Garg, Nishi Bhankharia i/b Trilegal For The Resolution Applicants : Sr. Adv. Gaurav Joshi, Aakanksha Saxena, Janaki Gadre, Aman Kacheria i/b Rashmikant Partners, for SSG Group ORDER Per: M. K. Shrawat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... adings filed by the Applicant. 5. The Applicant states that Miscellaneous Application No. 1770 of 2019 contains a detailed summary of the minutes of the meetings of the CoC, proposed pay-out in the resolution plans submitted by Respondent No. 3 and Carval. This information is subject to confidentiality restrictions and since the order refers to exchange of pleadings, the Applicants herein is seeking clarification in relation to service of the Application. 6. The Ld. Sr. Counsel Mr. Gaurav Joshi appearing for the unsuccessful Resolution Applicant is opposing the resolution plan approved by the CoC filed before this Bench in Miscellaneous Applications No. 1802 of 2019 in Uttam Galva Mettalics Ltd. The resolutio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RP and the CoC and for objecting the approval of Resolution plan pending before this Tribunal. This application is filed pursuant to an order dated 21.05.2019 (supra), wherein the parties were directed to complete the proceedings in the pending miscellaneous applications. The Applicant s grievance is that the RP refused to provide the pleadings to the Applicants. 10. The major contention of the Ld. counsel for unsuccessful Resolution Applicant is that neither the I B Code nor the Regulations thereto mention that the minutes of the CoC meetings are confidential and cannot be shared with the concerned parties. The minutes of the CoC meetings are already filed before this Bench and are now a part of record of a court of law. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt figures as liquidation value and fair market value of the Corporate Debtor, and the reasons for approval of resolution plan of Carval by CoC. Hence, it is apprehended by the RP that disclosure of such information might prejudice the fair running of CIRP. Hence, the RP is objecting to share the CoC minutes. 14. On going through the submissions made by the parties and the relevant provisions of the I B Code, it is understood that the unsuccessful Resolution Applicant has already filed an application for objecting Carval s resolution plan. SSG group is aggrieved that the due process has not been followed for conducting the CIRP and in rejecting its resolution plan. The application of SSG Group is on record and I assume that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ul Resolution Applicant in MA No. 2140 of 2019 and 2141 of 2019 is hereby rejected. 17. It is further clarified that the Operational Creditor herein (the Applicant) need not serve it s Miscellaneous Application No. 1770/2019 to the unsuccessful Resolution Applicant i.e. SSG Group. BEFORE THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH MA 1872/2019 in CP No. 2054/IBC/NCLT/MB/MAH/2018 The objections of the Applicant herein and the SSG group respectively to the Resolution Plan shall be heard separately. 18. Miscellaneous Application No. 1872 of 2019, MA 2140/2019 in CP 2054/2018 Ma 2141/2019 in CP 1830/2018 is disposed off in above terms. Ordered accordingly. - - TaxTMI - TMITax - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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