The appellant is a secured financial creditor with 3.22% voting shares in the CoC.

Punjab National Bank (PNB) has 96.68% voting shares in the CoC.

The resolution plan was approved by the adjudicating authority on 12.03.2024.

The CoC decided on the distribution mechanism based on vote shares.

The appellant filed I.A.637/JPR/2023 seeking several reliefs, including declaring certain resolutions as non-est.

The application was dismissed by the adjudicating authority.

The appellant claimed a security interest on the plant and machinery.

The RP submitted that the distribution mechanism was already decided by the CoC based on vote shares.

The Tribunal referred to a previous judgment in 'State Bank of India' Vs. 'IDBI Bank Limited & Anr.' supporting distribution on a pro-rata basis.

The appellant is a secured financial creditor with 3.22% voting shares in the CoC.

Punjab National Bank (PNB) has 96.68% voting shares in the CoC.

The resolution plan was approved by the adjudicating authority on 12.03.2024.

The CoC decided on the distribution mechanism based on vote shares.

The appellant filed I.A.637/JPR/2023 seeking several reliefs, including declaring certain resolutions as non-est.

The application was dismissed by the adjudicating authority.

The appellant claimed a security interest on the plant and machinery.

The RP submitted that the distribution mechanism was already decided by the CoC based on vote shares.

The Tribunal referred to a previous judgment in 'State Bank of India' Vs. 'IDBI Bank Limited & Anr.' supporting distribution on a pro-rata basis.