TMI Blog2021 (7) TMI 754X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Authority directed the Resolution Professional to consider if debt of Appellant is a Financial Debt and place it before CoC. He did this in 6th CoC Meeting. On the face of it the Lease Deed does not appear to be Financial Lease. As the Resolution Plan is stated to be already approved, when it appears that the Appellant is not a Financial Creditor, we do not wish to go into the technicalities of the manner in which it was excluded from the CoC. The grievance appears to be because orders with regard to excluding UCO Bank was not passed. The Respondent No. 1 does not appear to have filed any appeal against the impugned order in that regard and thus we would not give much indulgence to Respondent No. 1. The appeal is dismissed. - Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can be seen from Minutes of 4th Meeting of CoC (page 66 at 73). The Learned Counsel for the Appellant submitted that the Respondent No. 1 former Director of Corporate Debtor had filed CA-1511/2019 to exclude the Appellant as Member of the CoC claiming it was not a Financial Creditor. The Learned Counsel submitted that this application (Annexure A-2) has been decided by the Adjudicating Authority without hearing the Appellant. It is argued that if the Appellant was Member of the CoC, the CoC did not take any decision by voting to exclude the Appellant from CoC. Reference is made to Order dated 25th November, 2019 which was passed by the Adjudicating Authority. Copy of the same has been filed with the Written Submissions by Respondent No. 2 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the Appellant with regard to the statement that the impugned order has been passed without hearing the parties and the Learned Counsel adds that Adjudicating Authority did not pass any direction to delete UCO Bank as Financial Creditor which is also one of the prayers in CA-1511/2019 which was filed by Respondent No.1. 4. Learned counsel for the Appellant submits that when the Appellant was excluded from the CoC, the Appellant filed CA-812/2020 (at page 188) and made a prayer that appropriate orders should be passed with regard to decision by the RP for declaring the Appellant as Operational Creditor and not Financial Creditor in the 6th Meeting of the CoC held on 17.12.2019. The Appellant claimed that that it moved the application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 141. 8. The Adjudicating Authority in the impugned order has after considering the matter before it observed in para 7 (there are two paragraphs marked as 7), which reads as under: 7. Keeping In view the citations referred to, this Bench is of the opinion that the claim of the Greater Noida Authority can unequivocally be categorised as being an operational debt . We therefore do not find any infirmity in the decision of the Resolution Professional who has deemed it justified to amend and correct the claim of the Greater Noida Authority from one of financial claim to an operational debt . Accordingly, the CoC which has been reconstituted upon amending the aforesaid claim, consisting of home buyers as financial creditors along wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n this Appeal we are not dealing with issue if such lease constitutes, even operational debt). Order dated 25.11.2019 of the Adjudicating Authority directed the Resolution Professional to consider if debt of Appellant is a Financial Debt and place it before CoC. He did this in 6th CoC Meeting. On the face of it the Lease Deed does not appear to be Financial Lease. As the Resolution Plan is stated to be already approved, when it appears that the Appellant is not a Financial Creditor, we do not wish to go into the technicalities of the manner in which it was excluded from the CoC. The Learned Counsel for Respondent No. 1 is claiming that CA-1511/2019 was not heard. The grievance appears to be because orders with regard to excluding UCO Bank w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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