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TMI Blog2019 (8) TMI 1612X X X X Extracts X X X X X X X X Extracts X X X X ..... l eligible person i.e Financial Creditor, Operational Creditor (having debts of 10% and above) as well as to the member of suspended management. Therefore, as a caution we again hereby remind the CoC and the Resolution Professional to make compliance of the mandate given by the Hon'ble Supreme Court of India in the above stated decision, in its letter and spirit so as to avoid any further complication in the matter. During the course of heating Learned Counsel appearing for the Enercon Gmbh also pointed out that despite their claim being more than 12% of the total debts value of the corporate debtor, a copy of the resolution plan has not yet been provided to it. However, the Learned Counsel appearing for the Resolution Professional stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Learned Counsel appearing for the suspended management pointed out to us that a plain reading of the decision of Vijay Kumar Jain v. Standard Chartered Bank Ltd. Ors. make clear that the suspended management is also eligible to have access to all the resolution plans submitted to the RP and pending for consideration before the Committee of Creditors(CoC). In view of this, the Learned Counsel appearing for the suspended management demanded a copy of all such plans and raised such objection that without completing such mandatory formalities, the CoC could not have proceeded legally to put to vote on the resolution Plan for its approval. Since, such being a debatable issue as to whether a copy of all the Resolution Plans which were submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udicatory power nor can he ignore or exclude disputed claim, while collating information and updating the list of claim. In the light of above stated ruling r.w. decision of the Hon'ble Supreme Court in the matter of Vijay Kumar Jain v. Standard Chartered Bank Ltd. Ors., we feel appropriate to advise the Resolution Professional and to the CoC consider to provide a copy of resolution plan, if value of operational debts is of 10% and above to the total debts and such claim would be subject to final outcome of the decision of the Hon'ble Supreme Court in the pending SLP. The Resolution Professional and CoC are expected to take appropriate decision on the above subject in the light of our above observation and to communicate in writing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n'ble Supreme Court in its order dated 31.05.2019 (passed in IA Nos. 85878 85913 of 2019 in SLP 722 of 2019) by directing us that the present matter to be placed for hearing before a Division Bench of having a Judicial and technical members, which purports that the Hon'ble Supreme Court has already expected us to proceed further for hearing without losing further time in respect of all pending IA's otherwise it may amount to dilute the direction issued by the Hon'ble Supreme Court. Therefore, the IA 195 of 2019 is seeking for an adjournment in present matter cannot be allowed. Hence, the same is hereby rejected. In view of the above, the present case is fixed for comprehensive hearing on all pending IA's together. Theref ..... X X X X Extracts X X X X X X X X Extracts X X X X
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