2021 (9) TMI 1529 - SC - Insolvency and Bankruptcy

Resolution Plan being approved by the Committee of Creditors is pending for approval of the Adjudicating Authority - HELD THAT - It goes without saying that the submissions sought to be made by the appellant could be the matter for consideration of the Adjudicating Authority, of course, strictly in accordance with law. In that regard, suffice it to say that any observations made in the impugned order shall not be of prejudice to the appellant in making the relevant submissions; and consideration thereof by the Adjudicating Authority. The appeal stands dismissed.

Summary

The Supreme Court of India dismissed the appeal by the appellant, stating that they are not inclined to interfere while the Resolution Plan approved by the Committee of Creditors is pending for approval by the Adjudicating Authority. The appellant can make submissions to the Adjudicating Authority, and any observations made in the impugned order will not prejudice the appellant. All pending applications were disposed of.