TMI Blog2022 (2) TMI 1221X X X X Extracts X X X X X X X X Extracts X X X X ..... reditor in not taking a decision on the CTS proposal given by the Applicants. In any case, this Tribunal cannot pass any direction to the Financial Creditor to accept or reject an OTS proposal. Also the non-acceptance of the OTS proposal by the Financial Creditor would not act as an embargo for this Tribunal to pass an order n an Application filed under Section 7 and 95 of IBC, 2016. Applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Power Generation Chennai Private Limited was ordered by this Tribunal vide order dated 18.10.2019 and the Applicants herein stood as Personal / Corporate Guarantors in respect of the Corporate Debtor. Further, one Financial Creditors n respect of the Corporate Debtor has filed CP/80/CHE/2021 and CP/81/CHE/2021 against the Personal Guarantors of the Corporate Debtor under Section 95 of IBC, 2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heir revised OTS proposal. It was further submitted that the OTS proposal by Section 12A by the Applicant offer the highest realizable value to the creditors to the Corporate Debtor. 4. It is the contention of the Applicant that the C0C ought to have considered and corn municated their decisions within a period of one week from the date of receipt of the CTS offer, n terms of Regulation 30A of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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