9911796707
TMI Blog2022 (10) TMI 524X X X X Extracts X X X X X X X X Extracts X X X X ..... nd directs the Adjudicating Authority (National Company Law Tribunal, Special Bench II, Chennai), to take on Record the Improved Resolution Plan dated 30.08.2022, which was submitted by the Appellant to the 2nd Respondent / State Bank of India (Sole Member of the Committee of Creditor) and to proceed further, as per the ingredients of the Insolvency Bankruptcy Code, 2016 and as per the Rules and Regulations that are in force. As regards the Exclusion of a Time, prayed for, by the Appellant, i.e., from 07.03.2022 till 28.09.2022 (205 Days), being the Time Spent before the Adjudicating Authority (National Company Law Tribunal, Special Bench II, Chennai) and the Period Spent from 06.06.2022, till this Date (13.10.2022), shall be Excl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed therein. 3. On being aggrieved against the Order of Liquidation dated 06.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal, Special Bench II, Chennai) in IA/196(CHE)/2022 in IBA/578/2019, the Appellant / Suspended Director of M/s. Leo Primecomp Pvt. Ltd. , Chennai 600 015 has preferred the instant Comp. App. No. (AT)(CH)(Ins) No.245/2022, assailing the correctness of the Impugned Order of Liquidation passed. 4. On behalf of the Appellant / Suspended Director of M/s. Leo Primecomp Pvt. Ltd. , in the present Comp. App. (AT)(CH)(Ins) No.245/2022, a Memo is filed (vide Diary No.2688) dated 27.09.2022, before this Tribunal , showing that a total Resolution Plan for a sum of Rs.72 Crore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt , and that fact is not Contradicted on the Respondents side, this Tribunal , to prevent an aberration of Justice and to permit the substantial cause of Justice , sets aside the Order of Liquidation dated 06.06.2022 in IA/196(CHE)/2022 in IBA/578/2019 passed by the Adjudicating Authority (National Company Law Tribunal, Special Bench II, Chennai), and directs the Adjudicating Authority (National Company Law Tribunal, Special Bench II, Chennai), to take on Record the Improved Resolution Plan dated 30.08.2022, which was submitted by the Appellant to the 2nd Respondent / State Bank of India (Sole Member of the Committee of Creditor) and to proceed further, as per the ingredients of the Insolvency Bankruptcy Code, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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