The appeal was filed against the order dated 08.11.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata) in M.A. No. 2 of 2022 in Company Petition No.170 of 2017. The Appellant filed the M.A. where following prayers were made: (a) Either set aside the resolution plan dated 29.06.2017 as approved against applicant/TCIL or it be directed that claim of TCIL arising out NHAI Contract, Package 9 Contract & HSRDC Contract as per Annexures A-8 to A-10, are part of resolution plan as approved. (b) It be declared/held that resolution plan as approved of MBL being ineligible and not maintainable and being hit by Section 29A(h) of IBC Code as held by the Hon'ble Supreme Court in judgment dated 18.01.2022 passed in the said Civil
…Telecommunications Consultants India Ltd. (TCIL) filed an appeal against MBL Infrastructure Ltd. The appeal contested an order by the Adjudicating Authority (NCLT, Kolkata Bench) in M.A. No. 2 of 2022, related to Company Petition No. 170 of 2017. TCIL sought to set aside a resolution plan dated 29.06.2017 or have its claims included in the plan. TCIL also argued that the resolution plan was ineligible under Section 29A(h) of the IBC, citing a Supreme Court judgment. The Appellant's counsel confined the prayer to the extent that the resolution plan as approved by the Hon'ble Supreme Court cannot be said to extinguish claims of TCIL or bar initiation or continuance of proceeding in respect to a claim of TCIL which is not part of the resolution plan. The Respondent argued
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The appeal was filed against the order dated 08.11.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata) in M.A. No. 2 of 2022 in Company Petition No.170 of 2017. The Appellant filed the M.A. where following prayers were made: (a) Either set aside the resolution plan dated 29.06.2017 as approved against applicant/TCIL or it be directed that claim of TCIL arising out NHAI Contract, Package 9 Contract & HSRDC Contract as per Annexures A-8 to A-10, are part of resolution plan as approved. (b) It be declared/held that resolution plan as approved of MBL being ineligible and not maintainable and being hit by Section 29A(h) of IBC Code as held by the Hon'ble Supreme Court in judgment dated 18.01.2022 passed in the said Civil
…Telecommunications Consultants India Ltd. (TCIL) filed an appeal against MBL Infrastructure Ltd. The appeal contested an order by the Adjudicating Authority (NCLT, Kolkata Bench) in M.A. No. 2 of 2022, related to Company Petition No. 170 of 2017. TCIL sought to set aside a resolution plan dated 29.06.2017 or have its claims included in the plan. TCIL also argued that the resolution plan was ineligible under Section 29A(h) of the IBC, citing a Supreme Court judgment. The Appellant's counsel confined the prayer to the extent that the resolution plan as approved by the Hon'ble Supreme Court cannot be said to extinguish claims of TCIL or bar initiation or continuance of proceeding in respect to a claim of TCIL which is not part of the resolution plan. The Respondent argued
…Order passed by the Adjudicating Authority…
Date of the resolution…
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