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TMI Blog2019 (6) TMI 675X X X X Extracts X X X X X X X X Extracts X X X X ..... tions and objections of the erstwhile Board of Directors before passing any Resolution Plan (including CA No.286 of 2019) (P-19) will be treated as a preliminary issue. The preliminary issue will be decided by the Adjudicating Authority before considering other Applications or before approval of any Resolution Plan. In deciding the said preliminary issue, Adjudicating Authority will be guided by the judgment in Vijay Kumar Jain's case [ 2019 (2) TMI 97 - SUPREME COURT] and shall not take into consideration any other past practice, procedure, directions, judgments or orders of Adjudicating Authority/NCLAT which are in contravention, contradiction or derogation of the directions of the Hon''ble Supreme Court in the matter of V ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were not able to effectively participate before the CoC and the whole CIRP process is vitiated. He placed strong reliance on the directions contained in para 22 of the judgment of the Hon'ble Supreme Court rendered in Vijay Kumar Jain Vs. Standard Chartered Bank Ltd. And others 2019 SCC OnLine SC 103. In the said matter, the Hon'ble Supreme Court directed that a copy of the resolution plan should be provided to the petitioner Director and CoC meeting should be recalled to consider the submissions of the appellant Director within two weeks and resolution plan will be considered afresh by the CoC. Reference was also made to various letters to show that Board of Directors (BoC) had repeatedly requ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y has been provided to present its views before the CoC for consideration. In this view of the matter, the petitioner has filed the present writ petition and prayed that the CIRP process and the proceedings before NCLT may be quashed and directed to be started afresh. Apprehension was expressed that it has become a general practice in the CIRP process of various companies not to provide the copy of the resolution plan and various other documents to the Board of Directors during CIRP Process. Reliance was also laid upon the recent judgment rendered by the Hon'ble Supreme Court in Transfer Petition No.1399 of 2018 passed in Dharani Sugars Chemicals Ltd. Vs. Union of India, decided on 02.04.2019 whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting Authority will be guided by the judgment of Hon'ble Supreme Court in Vijay Kumar Jain's case (supra) and shall not take into consideration any other past practice, procedure, directions, judgments or orders of Adjudicating Authority/NCLAT which are in contravention, contradiction or derogation of the directions of the Hon''ble Supreme Court in the matter of Vijay Kumar Jain's case (supra). iv) Any judgment and order passed by the Adjudicating Authority on the aforesaid preliminary issue is directed to be kept inoperative for two weeks enabling the affected parties to exercise their appellate remedies in accordance with law. v) All other issues of fact, law, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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