Virender Pal Singh vs Mr. Surendera Raj Gang Resolution ...

IN THE MATTER OF: Virender Pal Singh ...Appellant

Versus

Surendera Raj Gang Resolution Professional Metenere Ltd. & Ors. ...Respondents

Present: For Appellant : Ms. Purti Gupta, Ms. Heena George, Ms. Sunidhi Sah, Advocates. For Respondents : Mr. Vaijayant Paliwal, Ms. Tanya Chib, Advocates for R-1. Mr. Ankur Mittal, Ms. Muskan Jain, Advocates for NARCL.

ORDER

(Hybrid Mode)

31.01.2025: This appeal has been filed against order dated 04.10.2024

by one Virender Pal Singh. By the impugned order the Adjudicating Authority

has approved the Resolution Plan of the Corporate Debtor. The Appellant's

claim is that he was working as Chief Financial Officer (CFO) of the Corporate

Debtor and he was paid salary upto May, 2021. The CIRP commenced on

03.10.2020. Appellant's case is that subsequently his salary was reduced to

50% w.e.f. June, 2021. The material on the record indicates that the

employees and officers of the Corporate Debtor had filed their claim, which

has been noticed in the Resolution Plan. Appellant did not file any claim nor

filed any application before the Adjudicating Authority claiming any

entitlement.

Cont'd.../ 2

2. We, thus, are of the view that Appellant is not a stakeholder in the CIRP

of the Corporate Debtor and cannot be allowed to question the approval of the

Resolution Plan. It is only stakeholders in the CIRP who have right to

challenge the Resolution Plan. Appellant who has neither filed any claim nor

filed any application is not entitled to challenge the Resolution Plan. There is

no merit in the appeal. Appeal is dismissed.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical)

[Arun Baroka] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No.50 of 2025