# In the matter of IDBI Bank Limited Vs Mr. Anuj Jain IRP Jaypee Infratech Ltd. and Anr IA No. 1857-2019 CA AT (Insolvency) No. 536-2019

> NCLAT judgment dated 2019-06-10. Citation: TCN-2019-NCLAT-00510. The case involves I.A. No. 1857 of 2019 in Company Appeal (AT)(Ins) No. 536 of 2019 before…

- **Court:** NCLAT
- **Order date:** 10 Jun 2019
- **Citation:** TCN-2019-NCLAT-00510
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/idbi-bank-limited-vs-mr-anuj-jain-irp-jaypee-infratech-ltd-and-anr-ia-no-1857-20-0e8a61b2

## Summary

### Background

The case involves I.A. No. 1857 of 2019 in Company Appeal (AT)(Ins) No. 536 of 2019 before the National Company Law Appellate Tribunal (NCLAT). The matter pertains to IDBI Bank Limited as the appellant and Mr. Anuj Jain, IRP, and Jaypee Infratech Ltd. as the respondents. The order addresses the voting process and the placement of the Committee of Creditors' decision before the Appellate Tribunal.

## Facts

IDBI Bank Limited filed I.A. No. 1857 of 2019 in Company Appeal (AT)(Ins) No. 536 of 2019. The case is before the National Company Law Appellate Tribunal (NCLAT). The respondents are Mr. Anuj Jain, IRP, and Jaypee Infratech Ltd. The court is addressing the voting process among financial creditors. The decision of the Committee of Creditors is to be placed before the NCLAT by the Resolution Professional, instead of the NCLT. The voting percentage of absent financial creditors should not be counted. The case was placed 'for orders' along with 'Interlocutory Application' on July 2, 2019.

## Issues and analysis

### Issue 1: Whether the decision taken after voting should be placed before the Adjudicating Authority (NCLT) …

**Ratio:** The Resolution Professional should place the decision of the Committee of Creditors

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**Reasoning:** The Appellate Tribunal directed that the 'Resolution Professional' instead of placing the

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**Interpretation:** This clarifies the procedural aspect of where the decision of the Committee of

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**Application:** In this specific case, the Resolution Professional is required to present the

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** IDBI Bank L…
- **Respondents:** Jaypee Infratech…; Anuj Jain…

## Timeline

- **2019-05-17 — Earlier Order by…**: An earlier order was passed…
- **2019-06-10 — Current…**: The tribunal addressed the voting process and the placement of the Committee of…

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