9911796707
TMI Blog2024 (12) TMI 1200X X X X Extracts X X X X X X X X Extracts X X X X ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings, against the Corporate Debtor stood initiated by an order passed on 18.07.2023. After the company, Corporate Debtor being brought into the CIRP Proceedings the Respondent No.1 i.e., The Resolution Professional is said to have issued (Form-G) consequentially inviting expression of interest and for which the last date fixed was 22.10.2023. In pursuance to the initiation of expression of interest made by an order of 22.09.2023, the (Form-G) was published and the Appellant admittedly had submitted its expression of interest to Respondent No.1. The scrutiny of expression of interest being submitted had furnished the provisional list of Provisional Resolution Applicants along with the information memorandum with respect to the Corporate De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence of the other members of the Committee of Creditors. But, however, the processing and reconsideration of the Resolution Plan was extended, for its resubmission of the revised final Resolution Plan till 31.03.2024, However, the Appellant has sought certain clarifications wide his communication, of 07.03.2024, and on the aforesaid intervening communications on 13.03.2024, the Respondent extended the time granted for submission of the revised final Resolution Plan until 18.03.2024. It is the case of the Appellant that, they have submitted the Revised Resolution Plan also on 18.03.2024, wherein a value of INR 3,30,21,00,000 payable, along with the interest, on the deferred payment, was the proposal which was offered by the present Appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the application for filing of an objection being I.VN. No. 20/2024 and IA No. 1229/2024, has been rejected by the Ld. Tribunal by the Impugned Judgment of 13.06.2024, holding thereof that no intervention application or an objection to process if approval of Resolution Plan could have been preferred by the Appellant, owing to the fact that the revised Resolution Plan which was submitted by the Appellant, it stood rejected on 28.03.2024, and the said order of rejection of the Resolution Plan has attained finality. Consequent to the rejection of the Intervention Application the Appellant has filed the Instant Company Appeal, wherein they have prayed for the following reliefs: - A. To aside the order dated 13.06.2024 passed by the Learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the Intervention Application seeking themselves to be impleaded in the Company Petition (I.B) No. 296/9/HDB/2022, we are of the view, that we need not to even venture into the complexities of the matter and after having perused the order, since the Applicant himself was admittedly determined as be an unsuccessful Resolution Applicant. The rejection of the of the intervention Application was rightly made because the Appellant was not even required to be heard even at the consideration of approval of the stage when the Resolution Plan is placed before the Ld. Adjudicating Authority for its approval. The learned counsel for the appellant had submitted that there are various grounds on, which he can questioned the propriety of the proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pping malls Private Limited, is being permitted to intervene in the appeal. The Appellant herein, who is also the appellant of the appeal already decided by the aforesaid part of today's judgment who has put a challenge to the order passed on IA No. 1229/2024, as rendered in CP(IB)No. 296/7/HDB/2022. The factual part as far as the instant appeal is concerned, the same will remain similar up to the stage of filing of the application IA No.1229/2024, preferred by the appellant who has already been dealt with the above, and has been determined as to be an unsuccessful Resolution Applicant and whose Intervention Application has been rejected. Owing to the fact that the Appellant's Intervention Application has been rejected and its rejec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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