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TMI Blog2025 (2) TMI 963X X X X Extracts X X X X X X X X Extracts X X X X ..... R ( Hybrid Mode ) These appeals have been filed challenging the same order passed by the Adjudicating Authority dated 20.09.2024 by which the Adjudicating Authority has approved the Resolution Plan of the Corporate Debtor. Company Appeal (AT) (Insolvency) No. 92 & 93 of 2025 filed by the Promoter i.e. Jai Prakash Keswani, also challenges order passed by the Adjudicating Authority in IA No.5451 of 2023 by which objections were raised by the Appellant to the Resolution Plan. Company Appeal (AT) (Insolvency) No. 94 of 2025 has been filed by a Homebuyer against the approval of Resolution Plan. 2. Learned counsel appearing for the Promoter submits that the Resolution Plan is not implementable and there is no viability and feasibility of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sent application pertain to the compliances that a Resolution Plan must follow through in order to be approved by this AA. Consequently, it would be imprudent for this AA to delve into the said contentions in light of the fact that the IA for approval of the aforesaid resolution plan is already pending before this AA and the same will be carefully considered in consonance with the provisions of the IBC, 2016 and the corresponding provisions of the allied rules and regulations." 7. Now when we look into the order passed by the Adjudicating Authority approving the Resolution Plan i.e. order dated 20.09.2024 in Para 45 the Adjudicating Authority made following observations: "45. Additionally, it is pertinent to mention that certain contenti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s has been held in this judgment, it is clear that Explanation 1 has only been inserted in order that the Adjudicating Authority and the Appellate Tribunal cannot enter into the merits of a business decision of the requisite majority of the Committee of Creditors. As has also been held in this judgment, there is no residual equity jurisdiction in the Adjudicating Authority or the Appellate Tribunal to interfere in the merits of a business decision taken by the requisite majority of the Committee of Creditors, provided that it is otherwise in conformity with the provisions of the Code and the Regulations, as has been laid down by this judgment." 10. We, thus, do not find any good ground to interfere in the order approving the Resolution Pla ..... X X X X Extracts X X X X X X X X Extracts X X X X
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