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TMI Blog2019 (4) TMI 1883X X X X Extracts X X X X X X X X Extracts X X X X ..... e Appellant is not in a mood to implement the resolution plan which was approved by the Committee of Creditors and the Adjudicating Authority and because of their failure the resolution process is now again to reopen. Appellant sought permission to withdraw the appeal but instead of allowing the Appellant to withdraw the appeal we are dismissing the appeal having no merit with liberty to the Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on plan. In this circumstance, it is to be considered as to what action required be taken for resolution process as also against the Resolution Applicant whose Resolution Plan after approval do not want to give effect to it and put pre condition when no such pre-condition Company Appeal (AT) (Insolvency) No. 795 of 2018 was made in the Resolution Plan. Let show cause notice be issued on the Direct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase for orders on 1stMarch, 2019.In the meantime, it is open to the Adjudicating Authority to pass appropriate order after hearing the Resolution Professional, the Managing Committee and the Committee of Creditors. If there is a second plan complied with Section 30 (2) and is available, it will be open to the Resolution Professional to place it before the Committee of Creditors and thereafter befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Affairs to take appropriate steps against Ingen Capital Group LLC. and its Managing Director and other Directors who tried to take advantage of the resolution process but later on failed to implement its proposal without any basis. If Appellant has no office in India then the Central Government through Ministry of Corporate Affairs may take up the matter with USA, where the Appellant Com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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