9911796707
TMI Blog2023 (10) TMI 892X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Dues of the Contractors / Operational Creditors has been allowed in the said Resolution Plan - violation of Section 30(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- This Tribunal while dealing with the batch of Appeals filed by the Employees of the Corporate Debtor Company in MRS. C.G. VIJYALAKSHMI VERSUS SHRI KUMAR RAJAN, RESOLUTION PROFESSIONAL, HINDUSTAN NEWSPRINT LIMITED, (CORPORATE DEBTOR) , COMMITTEE OF CREDITORS OF THE CORPORATE DEBTOR THROUGH RBL BANK LTD., RESOLUTION APPLICANT [ 2023 (3) TMI 18 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , CHENNAI] , challenging the very same Resolution Plan and the Order of the Adjudicating Authority, dated 29.01.2021, has allowed the Appeals in Part - it is specifically obser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporation (KINFRA). The Appellant in this Appeal is one among the Operational Creditors, being the Contractor providing the services to the Corporate Debtor Company. The Appeal bearing Company Appeal (AT) (CH) (Ins.) No. 69 / 2022 has been preferred by the group of five Operational Creditors, being Work Contractors, having supplied services to the Corporate Debtor Company, being aggrieved by the Approval of the `Resolution Plan , by the Adjudicating Authority, vide Impugned Order dated 29.01.2021. The Appeal bearing Company Appeal (AT) (CH) (Ins.) No. 77 / 2022 is preferred by an Operational Creditor, being a supplier of special paper chemicals to the Corporate Debtor Company, also challenging the Approval of the Resolution Plan. Since, all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... als filed by the Employees of the Corporate Debtor Company in Mrs. C.G. Vijyalakshmi Vs. Shri Kumar Rajan, Resolution Professional of Hindustan Newsprint Limited Ors., in Company Appeal (AT) (CH) (INS.) No. 29 / 2021 (lead case), challenging the very same Resolution Plan and the Order of the Adjudicating Authority, dated 29.01.2021, has allowed the `Appeals in Part , observing as follows: 29. ``As regards the other allegations, raised by the Appellant with respect to undervaluation and the scope and performance of SRA in taking over the unit are sans evidence and this `Tribunal , does not find any other `material irregularity , in the `Approval of the Resolution Plan . Rest of the prayers are declined and this `Tribunal , does not f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NS.) No. 23 / 2022, Company Appeal (AT) (CH) (INS.) Nos. 112 to 124 / 2021, Company Appeal (AT) (CH) (INS.) No. 267 / 2021, Company Appeal (AT) (CH) (INS.) No. 283 / 2021, Company Appeal (AT) (CH) (INS.) No. 202 / 2021 and Company Appeal (AT) (CH) (INS.) No. 344 / 2021, filed by other Creditors, challenging the very same issue of `Approval of the Resolution Plan, dated 29.01.2021 , had dismissed the Appeals, based on the observations, made by this Tribunal in Paragraph 29 in Mrs. C.G. Vijyalakshmi Vs. Shri Kumar Rajan, Resolution Professional of Hindustan Newsprint Limited, in Company Appeal (AT) (CH) (INS.) No. 29 of 2021. 9. It has been categorically noted by this Tribunal in these batch of Appeals that the Order has attained finality ..... X X X X Extracts X X X X X X X X Extracts X X X X
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