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TMI Blog2020 (9) TMI 1223X X X X Extracts X X X X X X X X Extracts X X X X ..... osed by the Hon ble High Court - That itself shows that the Applicant cannot meet the Bank officials since they are the consortium of Bank and CBI is still investigating further. In view of such order passed by the Hon ble High Court, Applicant again moved a modification application for modification of the conditions. The said application was disposed of by the Hon ble High Court on 13.11.2019. However, by that time all the meetings of the CoC was/were concluded. Application dismissed as being not maintainable. - IA 701 of 2019 in CP(IB) 137/NCLT/AHM/2018 - - - Dated:- 22-9-2020 - HON BLE MS. MANORAMA KUMARI, MEMBER (J) For the Appellant : Advocate Mr. Kunal P Vaishnav For the Respondent : Advocate Mr. Ravi Sharma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lated Section 24 25(2) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as IB Code ). 2.2 It is further alleged that the main action of RP and CoC is nothing but to see the Resolution of the Corporate Debtor, which is not done in the instant case and they are unnecessarily dragging the Corporate Debtor into Liquidation. 2.3 It is further alleged that in the past i.e. prior to going into insolvency, 3 bids were received for the revival of the Corporate Debtor who agreed for 100% payment of dues but the same was not considered in the Joint Lenders Forum and in view of the want of sanction of competent authority, resulted in withdrawal of Investors. 2.4 On receipt of the notice, RP appeared and filed the written re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said resignation is uploaded on the website of BSE and is annexed as Annexure-1 at page 10 of the reply. Even then, after legal opinion, the RP invited the Applicant in the 10 and 11tt CoC meeting wherein the Resolution Plans were discussed. 2.8 It is further submitted by the RP that RP had duly given notice for 10th and 11t CoC meeting with the detail agenda to the Applicant vide email dated 04.11.2019 and 07.11.2019 respectively. Hence, the allegation with respect to the notice being sent in extraordinarily short in time, less than 12 hours before the convening of the 10% and 11+ CoC meeting and not giving video link to participate in the Video Conference, is baseless. 2.9 It is also the matter of record that the Applicant vide ema ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 15 of the reply. 2.12 It is further submitted by the RP that the Applicant was duly called for the 10 and 11th CoC meetings, however, due to the stringent condition imposed on them by the Hon ble Gujarat High Court, he was unable to attend the same. 3. On perusal of the records, it is found that the Hon ble Gujarat High Court has passed the order on 18.06.2019 on the application so made by the Applicant, wherein certain conditions were imposed by the Hon ble High Court. Out of (a) to (h) conditions, one of the condition i.e. (g). is reproduced herein below: Ig] shall not contact any of the witnesses who are already forming the part of the papers of chargesheet and/or any of the Bank officials from the consortium of the Banks sin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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