# In the matter of Union Bank of India Vs. EMC Ltd. Through Resolution Professional Kannan Triuvebgadam & Ors. CA(AT)(Ins) No.1387 of 2019

> NCLAT judgment dated 2019-12-04. Citation: TCN-2019-NCLAT-00056. The Appellant, Union Bank of India, challenged a plan approved by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 4 Dec 2019
- **Citation:** TCN-2019-NCLAT-00056
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/union-bank-of-india-vs-emc-ltd-through-resolution-professional-kannan-triuvebgad-15988572

## Summary

### Background

The Appellant, Union Bank of India, challenged a plan approved by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench. The appeal was filed against EMC Ltd. through its Resolution Professional, Kannan Triuvebgadam & Ors. The Appellate Tribunal initially observed the appeal to be frivolous as Union Bank of India had consented to the plan but later challenged it. The appellant argued that the distribution of the amount was not properly made.

## Facts

Union Bank of India, the Appellant, challenged a resolution plan approved by the Adjudicating Authority (NCLT Kolkata) for EMC Ltd. The bank had initially consented to the plan but later filed an appeal. The primary ground for the appeal was that the distribution of the amount was not properly made. The Appellate Tribunal initially considered the appeal frivolous. The appellant was a member of the Committee of Creditors, which made the distribution. The court considered Section 32 and Section 61 of the Insolvency and Bankruptcy Code, 2016.

## Issues and analysis

### Issue 1: Whether the appeal filed by Union Bank of India against the approved resolution plan is …

**Ratio:** An appeal against an approved resolution plan can be filed under Section 61 of the

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**Reasoning:** The court noted that the Appellant had initially consented to the resolution plan. The

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**Interpretation:** Section 61 of the IBC allows appeals against approved resolution plans but

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**Application:** In this case, Union Bank of India's prior consent to the resolution plan

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…; +1 more
- **Appellants:** Union Bank of…
- **Respondents:** EMC L…

## Timeline

- **2019-10-21 — Approval o…**: The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, approved the…
- **2019-12-02 — Initial Obse…**: The Appellate Tribunal initially…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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