2020 (2) TMI 1537 - Tri - Insolvency and Bankruptcy

Approval of amalgamation scheme - despite the service of the Application, none present for the proponents of the Scheme despite an opportunity being given to the proponents of the Scheme to file their response - Affidavit under Section 29 (A) of IBC, 2016 - HELD THAT - As it is required, let the same be obtained from the proponents of the Scheme taking into consideration the representation made by the Learned Counsel for the Liquidator as well as considering the decisions of the Hon ble NCLAT in the matter of M/s. Jindal Steel Power Ltd. - versus - Arun Kumar Jagatramba (Gujarat NRE Cake Ltd.) 2020 (2) TMI 1130 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI , let an affidavit be filed by the proponents of the Scheme that it is not otherwise disqualified under Section 29-A of IBC, 2016 for considering the Scheme as submitted by the proponents within a period of ten days from today. Post this matter on 11.03.2020.

Summary

The Tribunal directed the proponents of the Scheme to file an Affidavit under Section 29(A) of IBC, 2016 within ten days to confirm their eligibility. Failure to do so may disqualify the Scheme. The next hearing is scheduled for 11.03.2020.