Amit Arora vs Mr. Shashi Kant Nemani & Ors

Present: For Appellant: Ms. Ekta Bharati, Mr. Saurabh Jain, Advocates For Respondent: Mr. Alok Dhir, Ms. Varsha Banerjee, Mr. Kanishk Khetan, Advocates for R1 Ms. Muskaan Garg, Mr. Dhruv Goel, Mr. Shailendra Singh, Advocates for R3

ORDER

(Through Virtual Mode)

13.12.2021: Heard Learned Counsel for the Appellant.

This appeal has been filed against the order of Learned 'Adjudicating

Authority' dated 23.11.2021 by which Learned 'Adjudicating authority' has

approved the 'Resolution Plan' submitted by one Mr. Sarabjit Singh. The Ex-

Director of the 'Corporate Debtor' has filed this appeal.

2. Learned Counsel for the Appellant submitted that one of the prospective

'Resolution Applicant' has submitted the 'plan' 'Amanat Randhawa Hotels Pvt.

Ltd.' has requested to consider the 'plan' and he has offered a higher amount

in the 'Resolution Plan' (RP) which was not accepted and not been considered.

He further submitted that he was not provided the copies of the 'Resolution Plan'

(RP) and he could not make any comment and submitted that there are some

other irregularities committed in approval of 'Resolution Plan'.

Company Appeal (AT) (Ins) No. 1037 of 2021 1

3. We have considered the submissions of the Learned Counsel for the

Appellant and perused the records. This appeal was heard on 10.12.2021, we

passed the following order:-

"Heard Mr. Jayant Bhushan,

Learned Counsel for the Appellant.

Learned Counsel for the Respondent

submits that 'Amanat Randhawa Hotels

Pvt. Ltd.' with regard to whom

submission is made that it could not be

able to submit its Resolution Plan has

already filed an Appeal being Company

Appeal (AT)(Ins.) No. 701 of 2021 which

has already been dismissed. Mr.

Jayant Bhushan, Learned Counsel for

the Appellant submits that he may be

given some time to look into the matter.

He prays for adjournment. Appeal is

adjourned to 13th December, 2021."

4. 'Amanat Randhawa Hotels Pvt. Ltd.' on whose behalf, it is being contended

that his 'Plan' was not considered, himself has filed an application before the

Learned 'Adjudicating Authority' which was rejected and an appeal to this

Tribunal which was being appeal no. 701 of 2021 has already been dismissed.

Company Appeal (AT) (Ins) No. 1037 of 2021 2 It is not open for the Appellant to contend that the plan of 'Amanat Randhawa

Hotels Pvt. Ltd.' ought to have been considered. In so far as the grievance of the

Appellant that he was not provided the copies of 'Resolution Plan' which has

been approved suffice to say that the Appellant himself was present in the

meetings of the 'Committee of Creditors' (CoC) which is apparent from the

proceedings which have been brought on the record by the Appellant himself

and no such grievance is shown to have been raised by the Appellant when he

was present in the meeting where the plan came for consideration.

5. The Learned 'Adjudicating Authority' has in the detailed order has

considered compliance of the relevant provisions of the Code and the Regulations

and thereafter has approved the 'Plan'. We find no infirmity in the order of

Learned 'Adjudicating Authority', the appeal is dismissed.

[Justice Ashok Bhushan] Chairperson

[Justice Jarat Kumar Jain] Member (Judicial)

[Dr. Alok Srivastava] Member (Technical) Shashi/nn

Company Appeal (AT) (Ins) No. 1037 of 2021 3