Revised Resolution plan may be considered by the “committee of creditors” even after Passing the resolution for liquidation.

Last updated: 08 January 2021

Court :
NCLAT Delhi

Brief :
Heard the Learned Counsel for the Appellant. This Appeal has been filed against the Impugned Order dated 09.12.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench, Ahmedabad, Court 2) in I.A. 886 of 2020 in CP (IB) 257/NCLT/AHM/2019. The Impugned Order which is a short order which reads as under :-

Citation :
Company Appeal (AT) (Ins.) No. 1117 of 2020

NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI

Company Appeal (AT) (Ins.) No. 1117 of 2020

IN THE MATTER OF:

Jay Overseas Pvt. Ltd.
402, Shoppers Plaza-IV,
Opp. Lal Bunglow,
C.G. Road, Navrangpura,
Ahmedabad – 380 009.
.…Appellant

Versus

1. Mr. George Samuel
Resolution Professional of Jason Decor Pvt. Ltd.
217, Ganesh Glory, Jagatpur,
S.G. Highway, Ahmedabad - 382481
….Respondent No.1

2. Indian Overseas Bank
Financial Creditor,
Sharad Shopping Centre, Chinubhai Tower,
Ashram Road, Ahmedabad – 380009.
….Respondent No.2

Present:
For Appellant: Mr. Sumant Batra, Advocate
Ms. Astha Mehta, Advocate
For Respondents: Mr. Ravi Pahwa, Advocate for R-1
Ms. Sangya Negi for R-2.

O R D E R
(Virtual Mode)

23.12.2020: Heard the Learned Counsel for the Appellant. This Appeal has been filed against the Impugned Order dated 09.12.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench, Ahmedabad, Court 2) in I.A. 886 of 2020 in CP (IB) 257/NCLT/AHM/2019. The Impugned Order which is a short order which reads as under :-

“ORDER

Advocate, Mr. Pavan Godiawala appeared on behalf of the Resolution Applicant. Advocate, Mr. Monaal Davawala appeared on behalf of the RP. RP, Mr. George Samuel is present in person. Advocate, Mr. Raju Kothari appeared on behalf of the COC.

The instant application is filed by one of the Resolution Applicants, whose Resolution Plan was already rejected by the COC.

To know more in details find the attachment file