2022 (11) TMI 1476 - SCH - Insolvency and Bankruptcy

Direction to place the Respondents resolution plan before the Appellant for consideration - it was held by NCLAT that 'In the present case, the case of the Respondents is that despite submission of resolution plan beyond the CIRP period and much later to the last date of submission of plans, sought a direction to the RP to place its / their plan before the CoC. Therefore, the Respondents are not at all to be considered as PRAs since they have backed out from submission of the plan and intend to make an entry in to the CIRP belatedly even beyond the period of CIRP.' - HELD THAT - There are no reason to interfere with the impugned order(s). Appeal dismissed.

Summary

The Supreme Court of India, with Justices Pamidighantam Sri Narasimha and J.B. Pardiwala, dismissed the appeals as they saw no reason to interfere with the impugned order(s). The appeals are dismissed, and pending application(s), if any, shall stand disposed of. Appellant represented by Mr. Kapil Sibal and others, while the respondent was represented by Mr. Mukul Rohatgi and others.