9911796707
TMI Blog2021 (6) TMI 651X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent: Mr. Ashish Makhija, Mr. Ashish Hira, Advocates for RP Mr. K. Datta, Senior Advocate with Mr. Abhijeet Sinha, Mr. Nikhil Bamal, Mr. Raghavendra M. Bajaj, Advocates ORDER (Through Virtual Mode) These two Appeals have been filed by two Financial Creditors claiming to be assignees of financial debt and on the strength of the same seeking to be part of the Committee of Creditors (CoC). It is claimed that the Appellants would constitute 68% of the CoC and thus they have an important stake involved. It appears that earlier an I.A No. 2167 of 2021 was filed by the Appellants and subsequently the same become infructuous. It is stated that in that I.A, there was interim stay granted by the Adjudicating Authority (National Company Law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubey appearing for Applicant No.2. In the course of hearing, the Counsel for the IRP submitted that the IRP has already filed an affidavit on 17.05.2021, by which he has informed the decision taken regarding the claims of both the Petitioners, which has also been communicated to the Petitioners through e-mail. Therefore, this Application has become infructuous. Mr. Virender Ganda, Sr. Counsel for ACRE ARC also submitted that in the facts and circumstances of the matter, the IA has become infructuous. Therefore, the IA is dismissed, being infructuous." 4. As regards I.A No. 2275 of 2021 (against which Company Appeal (AT) (Insolvency) No. 386 of 2021 is filed), the Adjudicating Authority passed the following orders:- "ORDER xxx xxx ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t appeals against the impugned orders as stated above, on the basis that holding of CoC should have been stayed. When the Corporate Insolvency Resolution Process has already consumed so much of time considering the objects of the Insolvency and Bankruptcy Code, 2016, it would not be appropriate to stay the holding of meetings of the CoC. 7. The Counsel for the Appellants claim that now the Applications before the Adjudicating Authority are fixed on 11th June, 2021. They request that the direction may be given to the Adjudicating Authority to decide the applications one way or the other on 11th June, 2021. The Counsel for the Appellants claim that they will be giving all the co-operation to the Adjudicating Authority. We expect all parties ..... X X X X Extracts X X X X X X X X Extracts X X X X
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