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TMI Blog2023 (10) TMI 1120X X X X Extracts X X X X X X X X Extracts X X X X ..... eeks liberty to file an application before the Adjudicating Authority for approval of the Resolution Plan - Considering the facts of the present case, the highest Resolution Plan having now received the majority of votes, the Resolution Professional may file an application before the Adjudicating Authority for approval of the plan which may be done within three weeks from today. Nothing survives to be decided in this Appeal - Appeal disposed off. - [ Justice Ashok Bhushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellant : Mr. Vardhman Kaushik, Mr. Ruchir Mishra, Mr. Sunil Aggarwal, Mr. Reeba Mishra, Advocates For the Respondents : Mr. Abhishek Anand, Mr. Sajal Jain, Mr. Mohak Sharma, Ms. Subhanshi Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 09th August, 2022, no meeting for revoting of the plan could be convened. 5. Regulation 39, Sub-Regulation (3), 2nd Proviso provides Provided further that where none of the resolution plans receives requisite votes, the committee shall again vote on the resolution plan that received the highest votes, subject to the timelines under the Code. 6. In view of the above, the plan which receives the maximum votes have to be voted again. 7. In view of the facts of the present case, we are of the view that Let Resolution Professional convene a meeting of CoC to put the plan which received the highest vote for revoting as per Regulation 39. The RP shall file an affidavit indicating the result of the revoting within three weeks. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onent shall act in accordance with the resolution passed by the members of CoC in 22nd meeting of CoC dated 01.08.2023 and proceed with filing of an Application under Section 30(6) read with Section 31 of the Code read with Regulations made thereunder as the Resolution Plan which was put for revoting has garnered more than the requisite voting share of 66% in favour of the Resolution Plan. 5. We have already extended the time for filing the Affidavit by our order dated 18.09.2023. Now the CoC having approved the Resolution Plan with voting share of 99.84%, Resolution Professional seeks liberty to file an application before the Adjudicating Authority for approval of the Resolution Plan. 6. Considering the facts of the present case, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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