# In the matter of Yes Bank Ltd. Vs. Anuj Jain, Interim Resolution Professional of Jaypee Infratech Ltd. & Anr. CA(AT)(Ins)No.488 of  2020

> NCLAT judgment dated 2020-05-22. Citation: TCN-2020-NCLAT-00272. The case pertains to Company Appeal (AT) (Insolvency) No. 488 of 2020 before the National…

- **Court:** NCLAT
- **Order date:** 22 May 2020
- **Citation:** TCN-2020-NCLAT-00272
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/yes-bank-ltd-vs-anuj-jain-interim-resolution-professional-of-jaypee-infratech-lt-0b52f5e2

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 488 of 2020 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeal involves Yes Bank Ltd. as the Appellant and Anuj Jain, Interim Resolution Professional of Jaypee Infratech Ltd. & Anr. as the Respondents. The approved resolution plan has been assailed in other appeals, and its implementation is subject to the outcome of those appeals.

## Facts

Yes Bank Ltd. filed an appeal against Anuj Jain, the Interim Resolution Professional of Jaypee Infratech Ltd. The approved resolution plan related to Jaypee Infratech Ltd. has been challenged in other appeals. The NCLAT is considering the implementation of the resolution plan in light of these other appeals. Notices were issued to the respondents, and they were given time to file a reply. The implementation of the resolution plan is contingent on the outcome of the current and other related appeals.

## Issues and analysis

### Issue 1: Whether the implementation of the approved resolution plan should be subject to the outcome of …

**Ratio:** The principle is that if a resolution plan is already under challenge in other appeals,

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**Reasoning:** The court reasoned that since the approved resolution plan has been assailed in other

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**Interpretation:** This interprets the insolvency resolution process to require a holistic and

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**Application:** The court applied this principle by directing that the implementation of the

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## Parties

- **Judges:** Bansi Lal…; V. P. S…; +1 more
- **Appellants:** Yes Bank…
- **Respondents:** Jaypee Infratech…; Anuj…

## Timeline

- **2020-05-22 — Order is…**: Notice issued to Respondents through Speed Post, requiring filing of requisites and…
- **2020-06-19 — Appeal l…**: Appeal listed for admission (after…

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