2019 (12) TMI 1570

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..... 326/2019, MA 2124/2019 In C.P.(IB)-1399(MB)/2017 Heard the Counsel representing the successful Resolution Applicant and the CoC as well as the erstwhile RP. There are three applications before us, one claiming the CIRP costs and another filed by the successful Resolution Applicant challenging the resolution plan on the ground that the entire information has not been provided to them for comply .....

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..... rights and contentions. Ld. Sr. Counsel representing the Banks also contends that the unit has been handed over to the Successful Resolution Applicant on "as is where is" condition and all the information that was required to be provided has already been provided and the successful Resolution Applicant had defaulted in making the payments as per the resolution plan. In view of the allegations .....

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..... be taken in the presence of both the parties. For this purpose, we hereby order the restoration of the CIRP and the erstwhile RP shall continue as RP henceforth. All the privileges, rights available to the RP under the CIRP under Section 14 mutatis mutandis shall be applicable until the proper decision is taken in this regard. It is for the CoC and RP to decide whether they run the undertaking .....

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