2021 (5) TMI 1017

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... material irregularity in exercise of powers by the Resolution Professional during the Corporate Insolvency Resolution Period - Section 61(3)(ii) of IBC - HELD THAT:- Learned Counsel for the Appellants has failed to point out that there is any material irregularity in exercise of powers by the Resolution Professional during the Corporate Insolvency Resolution Period. The Promoters are failed to co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lution Applicant. The Appellants have a good case in Appeal. Therefore, the CIRP may be stayed, till next date of hearing. Learned Counsel appearing on behalf of the Resolution Professional/R-1 submits that the Appellants being a Shareholders have not raised any objection before the Adjudicating Authority, therefore, they have no locus-standy to file this Appeal. It is also submitted that by the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e, the IRP made fresh paper publication for calling expression of interest on 13.01.2020. In 13th Meeting COC has approved the Resolution Plan by 100% voting share in favour of the Resolution Plan and the Learned Adjudicating Authority by the Impugned Order approved the Resolution Plan. In such circumstances, it is requested that the Appeal be dismissed at motion stage. We have considered the sub .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X