Mr. Mahendra Kumar Meena Suspended ... vs Mr. Amresh Shukla & Ors. & Ors

IN THE MATTER OF: Mahendra Kumar Meena ...Appellant(s)

Versus Amresh Shukla & Ors. ...Respondent(s)

Present: For Appellant(s) : Mr. Kaustubh Rai, Mr. Vipulaaksh Moondra and Mr. Shantanu Chaurasiya, Advocates.

For Respondent(s) : Mr. PCS Pratik Tripathi, Advocate for R2. ORDER

(Hybrid Mode)

21.05.2026 Heard Ld. Counsel for the parties.

2. This Appeal has been filed by the Suspended Director of the Corporate

Debtor challenging the order dated 12.12.2025 by which the Adjudicating

Authority has approved the Resolution Plan.

3. Ld. Counsel for the Appellant submitted that the IDBI was a Financial

Creditor who did not vote in favour of the plan and was dissenting Financial

Creditor. It is submitted that the plan does not provide for payment to IDBI

as per Section 30(2)(b) and Regulation of 38(1)(b). It is submitted that the

payment to dissenting Financial Creditor being not in accordance with law,

the approval of the plan needs to be set aside.

4. Ld. Counsel appearing for the Resolution Professional submitted that

the payments to the Financial Creditor including dissenting Financial

Creditor have been made as per law and the Resolution Professional has not

been communicated any dissatisfaction by the dissenting Financial Creditor

and they have no grievance.

5. Heard Ld. Counsel for the parties, we are of the view that at the instance

of the Suspended Director, the issue which has been raised regarding to

payment made to dissenting Financial Creditor, cannot be gone into at the

instance of the Appellant. Admittedly, the dissenting Financial Creditor has

been paid as per the resolution plan and had the dissenting Financial was

aggrieved by pay out under the plan, there was no implement to dissenting

Financial Creditor either to file an Appeal or to intimate the RP of his

grievances. Neither Appeal has been filed by the dissenting Financial Creditor

nor any grievances have been communicated to the RP. No grounds have been

made out to interfere in the impugned order.

The Appeal is dismissed.

[Justice Ashok Bhushan] Chairperson

[Indevar Pandey] Member (Technical) Abhishek/Manu

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