The appeal was filed against the order dated 16.07.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which approved the Resolution Plan with the approval of the Committee of Creditors' (CoC) meeting held on 28.08.2019 with 100% majority. Another Operational Creditor- Department of Sales Tax had filed Company Appeal (AT) (Ins.) No. 972 of 2021 against the same order dated 16.07.2021, which was already dismissed by the Tribunal vide its judgment dated 30.11.2021.
The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, passed an order on 16.07.2021 approving a Resolution Plan that had been approved by the Committee of Creditors (CoC) in a meeting held on 28.08.2019 with 100% majority. The appellant, an Operational Creditor, filed an appeal against this order, claiming that they were only granted 1.07% of the admitted claim, which they considered inequitable. Previously, another Operational Creditor, the Department of Sales Tax, had filed Company Appeal (AT) (Ins.) No. 972 of 2021 against the same order, which was dismissed by the Tribunal on 30.11.2021. The delay in re-filing the current appeal was condoned.
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The appeal was filed against the order dated 16.07.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which approved the Resolution Plan with the approval of the Committee of Creditors' (CoC) meeting held on 28.08.2019 with 100% majority. Another Operational Creditor- Department of Sales Tax had filed Company Appeal (AT) (Ins.) No. 972 of 2021 against the same order dated 16.07.2021, which was already dismissed by the Tribunal vide its judgment dated 30.11.2021.
The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, passed an order on 16.07.2021 approving a Resolution Plan that had been approved by the Committee of Creditors (CoC) in a meeting held on 28.08.2019 with 100% majority. The appellant, an Operational Creditor, filed an appeal against this order, claiming that they were only granted 1.07% of the admitted claim, which they considered inequitable. Previously, another Operational Creditor, the Department of Sales Tax, had filed Company Appeal (AT) (Ins.) No. 972 of 2021 against the same order, which was dismissed by the Tribunal on 30.11.2021. The delay in re-filing the current appeal was condoned.
Committee of Creditors'…
Order passed by the Adjudicating Authority…
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