9911796707
TMI Blog2021 (7) TMI 499X X X X Extracts X X X X X X X X Extracts X X X X ..... be pleased to allow the present application and allow the present applicant who is the suspended director of the Corporate Debtor to submit a Resolution Plan to the R.P and members of the COC." 2. The brief facts of the case are as under: - The Application for Corporate Insolvency Resolution Process filed by Dhanalaxmi Bank Ltd (Financial Creditor) against Trivandrum International Health Services Limited (Corporate Debtor) was admitted by this Tribunal vide order dated 07.02.2020 in IBA/51/KOB/2019 wherein Shri Raju Palanilkunnathil, was appointed as Interim Resolution Professional. In the 2nd meeting of Committee of Creditors held on 06.08.2020, the IRP was appointed as Resolution Professional. Accordingly, the Resolution Professional i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present applicant has been working day and night to provide medical services to not only Covid-19 positive patients but have also been providing medical services to all the patients who approached him. Even though, the Applicant was treating various patients he attended the COC meetings where he mentioned to all the members that the directors/promoters have already filed their proposal for settlement of dues with Financial Creditors with an intention to file a withdrawal application. That the members of the COC requested the applicant to submit an exhaustive resolution plan for consideration and approval. It is also stated that the Corporate Debtor post notification from the Ministry of Micro, Small and Medium Enterprises became applicable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he RP and members of COC seeking permission for submitting a resolution plan in his capacity as promoter claiming that corporate debtor is an eligible MSME unit as per the revised classification implemented by Government of India effective from June, 2020. He has further stated that due to the continued lockdown restrictions from March, 2020 he was prevented from submitting a resolution plan as he was engaged in treatment of patients as a front-line doctor. 6. It is also stated that the Applicant/Promoter also informed the RP and the COC that he has also filed an Intervention Application before this Tribunal on 01.05.2021 (INVP/02/KOB/2021) in IBA/51/KOB/2019 seeking indulgence of this Tribunal to permit for submission of his resolution pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esolution Plan considering the view taken by the COC and meeting eligibility criteria prescribed for submitting the resolution plan including the eligibility as an MSME in the interest of justice. 9. We have heard the learned counsel appearing on either side and Perused the documents placed on record. During the arguments, learned Counsel for the applicant stated that he has received the MSME Udhayam Registration Certificate on 16.6.2021 and that his resolution plan also may be considered by the CoC while finalizing the CIR Process. Learned counsel for the respondent stated that since the CIR Process is to be completed on or before 23.7.2021, if this Tribunal grants a short period to the applicant to submit the Resolution Plan, the Resolut ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
