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TMI Blog2024 (12) TMI 536X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 and the same is accordingly rejected. Appeal dismissed. - [ Justice Sharad Kumar Sharma ] Member ( Judicial ) And [ Jatindranath Swain ] Member ( Technical ) For the Appellant : Mr. B. S. V. Prakash Kumar , Advocate JUDGMENT ( Hybrid Mode ) [ Per : Justice Sharad Kumar Sharma , Member ( Judicial ) ] 1. The Appellant herein had earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the allegation of malice and fraud has been placed before it, proceeded to pass an order on 28.05.2024 thereby rejecting the said application (1414/2024). Further, Learned Adjudicating Authority approved the Resolution Plan preferred in IA No.7/2024 on 28.05.2024, with the following order: - Therefore, the resolution plan, when tested on the touch stone of the aforesaid facts and the rulings, we are of the view that the instant resolution plan satisfies the requirements of Section 30(2) of the Code and Regulations 37, 38, 38(1A) and 39(4) of the Regulations. We also found that the Resolution Applicant is eligible to submit the Resolution Plan under Section 29A of the Code . 3. The said decision taken on 28.05.2024 on the unnumbered applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ejecting the said unnumbered application. It is also seen that the appeal filed by the Appellant in CA(AT) (CH) (Ins) No.25/2023, challenging rejection of his Section 7 application in CP(IB) No.337/7/HDB/2021 before this Tribunal has also been dismissed by an order dated 09.09.2024 on grounds that the Appellant has participated in CIRP by submitting his claim in Form C and that the Resolution Plan has been approved. 5. The Learned Counsel for the Appellant has referred to the Judgment reported in 2024 SCC Online NCLAT 462 Ashmeet Singh Bhatia Vs Pragati Impex India Private Limited Anr., but the said case will not be much relevance to be made applicable for the reason being that (i) In the said case, the Tribunal was dealing with a case as a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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