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TMI Blog2025 (5) TMI 860X X X X Extracts X X X X X X X X Extracts X X X X ..... s for R-1 ORDER ( Hybrid Mode ) Heard Learned Counsel for the Appellant as well as the Learned Counsel appearing for the Respondent. 2. This Appeal has been filed by Suspended Director challenging order dated 27.02.2025 by which I.A. No. 955/2025 filed by the Appellant has been rejected. 3. The Appellant is Suspended Director of the Corporate Debtor who file the I.A. making following prayer: "IA-955/2025: The prayer made in the captioned application reads thus: "a. Allow the present Application, and b. Direct the Respondents to provide relevant documents/Resolution Plan and allow the applicant to participate in discussion and deliberation on Resolution Plan in the ongoing CIRP of the Corporate Debtor, and/or; c. Exclude the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss his plea, Mr. Sumant Batra relied upon the judgment of Hon'ble NCLAT of Company Appeal (AT) (Insolvency) NO. 1906 of 2024, Yashdeep Sharma vs. Tara Chand Meenia, Resolution Professional &Ors. Para-17 of the judgment reads thus : "At this juncture, we would like to add that we have no quarrelwith the proposition of law laid down by the Hon'ble Apex Court in Vijay Kumar Jain supra that the suspended management has a right to participate in the CoC meetings and entered to documents including resolution plan since Regulation of CIRP Regulations recognizes the vital interest of the suspended management in a resolution plan. This judgment of the Hon'ble Supreme Court which has been relied upon by the Appellant is however not applicable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ven by the Appellant, hence plan was not provided to the Appellant. 7. It is further submitted by Mr. Batra that brother of Appellant Joginder Singh has expressed intention to submit a plan and he was also allowed to submit a plan, which could not be submitted and ultimately I.A. for seeking a direction has been rejected and Company Appeal filed by Joginder Singh being Company Appeal (AT) (Insolvency) No. 619 of 2025 has also been dismissed by order of the court today. 8. We have considered submission of Counsel for the parties and perused the record. 9. The Appellant as a Suspended Director was entitled to participate in meeting of the Committee of Creditor. The question as to whether he was entitled for copy of resolution plan needs to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... intention to submit a plan who was also allowed time to file a plan by 03.02.2025, which we have noticed in the Company Appeal (AT) (Insolvency) No. 619 of 2025 decided today. When the brother of the Appellant was submitting a plan, the RP was well within his rights to ask the Appellant to give undertaking that neither the Appellant nor any of related party shall submit the resolution plan. 12. Giving the resolution plan to Appellant who was suspended director when his brother was intending to file resolution plan would have been opening the all relevant facts and the copy of the resolution plan. Hence, we are of the view that RP was right in asking the undertaking which was never given by the Appellant. 13. The Adjudicating Authority has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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