2021 (2) TMI 1244

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..... ady the Resolution Applicant has already deposited ₹ 10,000,000 in lieu of the Bank Guarantee. The Counsel for the RA also submitted that the approval from the Regulatory Authorities were obtained and they are ready to implement the plan as approved by this Bench. The Resolution Applicant assures that the balance sum of ₹ 10 crores will be infused within 2 weeks. No fruitful purpose .....

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..... 9 2220 of 2020: Counsel for the Committee of Creditors(Applicants) and Counsel for the Resolution Applicant (Respondent) are present. It is submitted that Resolution Plan was approved on 28th February, 2018. The Resolution Applicant failed to implement the Plan and hence this Application. Heard both the sides.It is revealed that the Resolution Applicant has already deposited a sum of ₹ .....

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..... 00 in lieu of the Bank Guarantee. The Counsel for the RA also submitted that the approval from the Regulatory Authorities were obtained and they are ready to implement the plan as approved by this Bench. The Resolution Applicant assures that the balance sum of ₹ 10 crores will be infused within 2 weeks. No fruitful purpose presently would be served by invoking the Bank Guarantee. Since an .....

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