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TMI Blog2019 (12) TMI 1465X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr. Kunal Anand and Mr. Aditya, Advocates. Ms. Misha, Mr. Siddhant Kant, Ms. Charu Bansal and Ms. Jasveen Kaur, Advocates for the Liquidator. ORDER This Appeal has been preferred by Promoter/ Shareholder of Su-Kam Power Systems Ltd. ('Corporate Debtor') against order dated 31st October, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant has given the best proposal scheme for compromise and arrangement, which is beneficial to all the creditors. If it is not accepted, then the 'Corporate Debtor' is to be liquidated without any 'resolution' or 'revival'. Therefore, it should have been entertained by the 'Liquidator', if the Members or the Creditors have no objection. 4. Similar issue fell for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orporate Debtor'." 5. As the case of the appellant is covered by the decision of this Appellate Tribunal in Jindal Steel and Power Limited, we hold that the Appellant in view of Section 29A of the I&B Code, cannot file any application for compromise and arrangement in terms of Section 230-232 of the Companies Act, 2013 to take over the Company. While we hold that there is no delay in preferri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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