9911796707
TMI Blog2024 (12) TMI 536X X X X Extracts X X X X X X X X Extracts X X X X ..... 0/2024, being aggrieved against the Impugned Order of 28.05.2024 as it was passed in unnumbered IA (e-filing No).1414/2024 which was preferred in CP(IB) No.97/7/HDB/2022. In the said Company Appeal the basic question under consideration was as to whether the application preferred by the applicant therein claiming himself to be a 3rd Party/Shareholder of 2nd Respondent / Corporate Debtor, praying to set aside the order of admitting the Corporate Debtor into CIRP proceedings under Section 7 of I & B Code on the grounds that the Section 7 application was preferred with malicious intention and hence the same cannot be proceeded with in the light of the provisions contained under Subsection(3) of Section 65 of the Insolvency and Bankruptcy Code, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (CH) (Ins) No.280/2024 which has since been dismissed by this Tribunal. 4. The Appellant has once again approached this Tribunal, being aggrieved against the Order of 28.05.2024, as passed in IA No.7/2024 preferred in CP(IB) No.97/7/HDB/2022, challenging the Impugned Order by virtue of which the Learned Adjudicating Authority had approved the Resolution Plan, on the reasoning that it satisfied the touchstone of the provision contained under Section 30(2), to be read with Regulation 37, 38, 38 (1A) and 39(4) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulation 2016 and that the Resolution Applicant, was eligible to be considered under Section 29A of the I & B Code. The approval of the Resolution Plan was made subject to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed on an Intervention Application. (ii) The Appellant therein was claiming a right in the capacity of being a homebuyer; the facts of the said case since being absolutely distinct to the one at hand, as it pertained to a different subject altogether, will not be applicable. 6. Consequently, since the Resolution Plan itself which has been approved by the Impugned Order dated 28.05.2024 satisfies the test of Section 30(2) to be read with Section 30(6) of the Insolvency and Bankruptcy Code and since it does not suffer from any defect which could be at all be agitated by the Appellant when he himself has independently agitated the proceedings under Section 7 of the Insolvency and Bankruptcy Code, the Appeal is held to be devoid of merit an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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