# In the matter of Eight Finance Pvt. Ltd. & Ors. Vs. Amit Gupta, R.P. of HDO Technologies Ltd. & Ors.  CA (AT) (Insolvency) No. 358, 359, 495 & 496-2018

> NCLAT judgment dated 2018-11-29. Citation: TCN-2018-NCLAT-00047. The case involves multiple Company Appeals (AT) (Insolvency) No. 358, 359, 495 & 496 of 2018.…

- **Court:** NCLAT
- **Order date:** 29 Nov 2018
- **Citation:** TCN-2018-NCLAT-00047
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/eight-finance-pvt-ltd-ors-vs-amit-gupta-rp-of-hdo-technologies-ltd-ors-ca-5d76f46f

## Summary

### Background

The case involves multiple Company Appeals (AT) (Insolvency) No. 358, 359, 495 & 496 of 2018. The appeals relate to the insolvency resolution process. The core issue revolves around a 'Modified Financial Proposal' submitted by the 'Resolution Applicant' (Eight Finance Pvt. Ltd.). The appellate tribunal is considering the feasibility, viability, and financial matrix of this proposal.

## Facts

Eight Finance Pvt. Ltd. is the 'Resolution Applicant' and Appellant in Company Appeal (AT) (Insolvency) No. 358 and 359 of 2018. Amit Gupta, R.P. of HDO Technologies Ltd. & Ors. are the Respondents in Company Appeal (AT) (Insolvency) No. 358 of 2018. Amit Gupta, R.P. of Hindustan Dorr Oliver Ltd. & Ors. are the Respondents in Company Appeal (AT) (Insolvency) No. 359 of 2018. S.C. Sekaran is the Appellant in Company Appeal (AT) (Insolvency) No. 495 & 496 of 2018. Amit Gupta & Ors. are the Respondents in Company Appeal (AT) (Insolvency) No. 495 & 496 of 2018. The core issue revolves around a 'Modified Financial Proposal' submitted by the 'Resolution Applicant'. The 'Committee of Creditors' is to consider the proposal.

## Issues and analysis

### Issue 1: Whether the 'Resolution Applicant' should be allowed to submit the 'Modified Financial Proposal' to …

**Ratio:** The tribunal has the power to facilitate the resolution process and ensure that all

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**Reasoning:** The court considered the stand taken by the 'Resolution Applicant' and found it

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**Interpretation:** This involves interpreting the powers of the tribunal in the context of the

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Eight Finance…
- **Respondents:** Amit Gupta, R.P.…

## Timeline

- **2018-07-12 — Interim…**: Interim order passed on…
- **2018-08-29 — Clarification of…**: Interim order clarified…

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