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TMI Blog2022 (1) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... doubt, it is a settled law that commercial wisdom of the Committee of Creditors (CoC) is supreme and cannot be interfered in a normal circumstance but when figures of crore are emerging stagewise then there is no harm to look at the Expert opinion which the Adjudicating Authority in this case has asked for. As far as the RP is concerned, he is treated as an officer of the court and as appears to us, no adverse comment has been passed against him. He has only been requested to co-operate with the OL. There is nothing adverse against him. There are no merits in these appeals - appeal disposed off. - [Justice Ashok Bhushan] Chairperson And (Dr. Ashok Kumar Mishra) Member(Technical) For the Appellant : Mr. K. Datta, Sr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rty and has asked RP to also cooperate with the OL. 2. The Appeal - Company Appeal (AT) (Ins) No. 1034 of 2021 has been filed by the RP of the Corporate Debtor (CD) under CIRP being aggrieved by the observation / adverse remark passed by the Adjudicating Authority in the impugned order dated 05.10.2021 in CP (IB) 170/(PB)/2018. 3. Both the Appeals are arising from the same impugned order dated 01.09.2021/05.10.2021 in CP(IB) 170 /(PB)/2018 so it was thought fit and proper to hear the case together and dispose off accordingly. 4. The brief fact of the case is that during the CIRP of the CD (ACIL Limited) the amount claimed is of Rs. 1830/- Crore approx., amount admitted is Rs. 1782 /- Crore approx. and amount provided under the plan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 07 and then some addendum was provided in July, 2019 by the valuers. 7. Avoidance transactions of approximately Rs. 1000/- Crore has also come to the light on para d. (appearing at page 8 of CA(AT) (Ins) No. 1034 of 2021). No doubt, it is a settled law that commercial wisdom of the Committee of Creditors (CoC) is supreme and cannot be interfered in a normal circumstance but when figures of crore are emerging stagewise then there is no harm to look at the Expert opinion which the Adjudicating Authority in this case has asked for. 8. As far as the RP is concerned, he is treated as an officer of the court and as appears to us, no adverse comment has been passed against him. He has only been requested to co-operate with the OL. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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