2020 (9) TMI 1220 - Tri - Insolvency and Bankruptcy

Seeking approval of Resolution Plan - HELD THAT - The applicant is seeking relief which was not considered by the Bench at the time of approval of Resolution Plan by this Bench as well as denied any relief by the Income Tax Authority and hence, they approach this Bench by filing present application.

Summary

The Tribunal dismissed IA No. 3412/2020 as frivolous, imposing a cost of Rs. 1,00,000 on the applicant for wasting judicial time. The applicant sought relief not considered during approval of the Resolution Plan and denied by the Income Tax Authority.