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TMI Blog2019 (5) TMI 1353X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr Bansi Lal Bhat, Member (Judicial) Company Appeal (AT) (Insolvency) No. 266 of 2019 For The Appellant : Mr. Kapil Sibal, Senior Advocate AndMr. R.S. Sanjanwala, Senior Advocate with Mr. Sandeep Singh, Mr. Gaurav Mathur, Ms. Anushree Kapadia, Mr. Abhishek Shah and Ms. Kavita Bhardwaj, Advocates For The Respondents : Mr. Ramji Srinivasan, Senior Advocate with Mr. Raunak Dhillon, Ms. Ananya Dhar and Ms. Sylona Mohapatra, Advocates, Mr. Arun Kathpalia, Senior Advocate with Ms. Anannya Ghosh, Advocate And Mr. Abhinav Vashisht, Senior Advocate with Ms. Ruby Singh Ahuja, Mr. Sudhir Sharma, Mr. Vishal Gehrana, Mr. Abhishek Swaroop, Mr. Anupm Prakash, Mr. Utkarsh Maria, Ms. Misha Chandna, Mr. Naman Bagga, Mr. Amit Bhandari, Advocates ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 14 of the I&B Code shall cease to have effect; and (b) That the Resolution Professional shall forward all records relating to the conduct of the corporate insolvency resolution process and the resolution plan to the Board to be recorded in its database". 3) It is submitted that the order dated 18th March, 2019 passed by this Appellate Tribunal is interpreted in a manner, as if the plan submitted by Arecelor Mittal India Pvt. Limited to be implemented as has been proposed without complying with the direction of the Adjudicating Authority wherein Committee of Creditors have been directed to remove the discrimination. 4) Mr. Arun Kathpalia, learned senior counsel appearing on behalf of Respondents 2 to 5 (some of the 'Fina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. 9) The order dated 18th March 2019 if read with order dated 15th March, 2019 and as the impugned judgement particularly the observations as made at para 22 and para 28 having not been stayed, the 'Resolution Plan' is to be implemented in terms with the direction of the Adjudicating Authority which shall be subject to the decision of this Appellate Tribunal. Aforesaid order was passed to ensure that during the pendency of the appeal the 'Successful Resolution Applicant' do not suffer. 10) In this background, the Resolution Professional is required to call for the meeting of the Committee of Creditors for its decision in terms of the decision of the Adjudicating Authority, which shall be subject to the decision of these appeals. 11) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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