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TMI Blog2022 (3) TMI 1112X X X X Extracts X X X X X X X X Extracts X X X X ..... is eligible as per the eligibility criteria approved by the CoC. Thus, grievance of the Appellant that his offer was never considered has no merit. Appellant can not make any complaint on the aforesaid account. From the facts, which has been brought on record it does appear that the Resolution Professional after the 2nd CoC meeting has visited the Hospital and obtained the permission of CMO and met Dr. Mall who was at that point of time running the hospital. The present is the case of running of a hospital, the Resolution Professional is not supposed to take physical possession of the hospital for running the hospital in the facts of the present case. The visiting of the Resolution Professional and all steps taken by the RP has duly been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Government to one Dr. Mall who had run the Hospital during the Covid 19 period and subsequently the said Dr. Mall submitted the Resolution Plan which has been approved. It is submitted that Appellant who also wanted to submit a Resolution Plan was never permitted to submit a Resolution Plan and his proposed Resolution Plan was not even considered. He submits that the Resolution Professional has not performed its duties as entrusted under the provisions of Section 25 of the Code since he has not taken possession of the documents and the assets of the Corporate Debtor and at no point of time possession was taken hence there was material irregularity in conduct of proceeding of Resolution Professional which is a ground for disapproving t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Learned Counsel for the Resolution Professional and submits that Appellant was not eligible to submit a plan and no plan was actually submitted. He further submits that Resolution Plan which was submitted by the Resolution Applicant was fully compliance with all the provisions of the Code and Dr. Mall was never ineligible to submit a plan and the CoC after considering all aspects of the matter has approved the plan with 100% voting share whereas the claim of the Appellant was considered and rejected by the CoC with 100% Voting Share. 6. We have considered the submissions of the Parties and perused the record. 7. The present is the case where Order of the Adjudicating Authority approving the Resolution Plan is under challenge. In s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... beration denied to accept but reiterated that he may file the proposal by way of submission of Resolution Plan provided he is eligible as per the eligibility criteria approved by CoC under the provisions of Section 25(2)(h) of IBC, 2016. Mr. Vijay Kumar Pandey concurred and he stated that he will discuss the same with his legal advisor and will file the Resolution Plan, accordingly. 8. Thus, the grievance of the Appellant that his plan was never considered does not appear to be correct. No formal resolution plan was submitted by the Appellant although the COC has permitted the Appellant to submit his plan provided he is eligible as per the eligibility criteria approved by the CoC. Thus, grievance of the Appellant that his offer was nev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor and whether the financial offers and other offers given by the Resolution Plan are sufficient to approve and comply the mandates given in the statutory scheme. The Adjudicating Authority in its Judgement has elaborately considered the details of the Resolution Plan/Payment Schedule in Paragraph 5 and has also recorded his satisfaction regarding all other aspects of the matter including the statutory compliance by the Resolution Plan. We do not find any error in the Order impugned of the Adjudicating Authority approving the Resolution Plan. The Commercial wisdom of CoC has to be given due regard. We are of the view that no grounds have been made out to interfere with the Impugned Order in exercise of our Appellate Jurisdiction, the App ..... X X X X Extracts X X X X X X X X Extracts X X X X
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