9911796707
TMI Blog2018 (7) TMI 1854X X X X Extracts X X X X X X X X Extracts X X X X ..... Board of Directors is about ₹25 crores. If the member of the suspended Board of Directors have a right to participate in the meeting of Committee of Creditors, the right to be heard in the proceedings under the Code on the approval of Plan till these are concluded, should not be denied. The record of the case shows that the Resolution Professional has filed CA for challenging the preferential/under-valued transactions etc. In this application, notice has been issued to the Promotor- Director of the Company and Mr. Muneesh Malhotra, Advocate is already representing him as is evident from the order dated 22.05.2018 passed by this Tribunal. In the said order the Promotor-Director has been directed to supply addresses of the persons na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs and CA No. 100/2018 for sanction of the Plan filed by the Resolution Professional is still pending under consideration. 2. The applicant herein Mr. Rajshekar Totakura is the Promotor- Director of the corporate debtor undergoing resolution process and filed this application for intervention. The basic prayer at this stage for which the arguments have been addressed by the learned counsel for the parties, relates to the prayer for supply of copy of Resolution Plan to the intervener so that he can properly assist this Tribunal. The learned counsel for the Resolution Professional vehemently opposed the prayer for supply of copy of the Resolution Plan mainly on the ground that the Plan was approved by the Committee of Creditor with 100% vo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied. 6. The record of the case shows that the Resolution Professional has filed CA No. 103/2018 for challenging the preferential/under-valued transactions etc. In this application, notice has been issued to the Promotor- Director of the Company and Mr. Muneesh Malhotra, Advocate is already representing him as is evident from the order dated 22.05.2018 passed by this Tribunal. In the said order the Promotor-Director has been directed to supply addresses of the persons named in the application of the Resolution Professional. So the applicant, herein, is already participating in the proceedings pending before this Tribunal. 7. However, the right to participate cannot be extended to the extent of a direction to the Resolution Professional ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
