National Company Law Appellate Tribunal
Shirdi Industries Ltd & Anr vs Commissioner Of Cgst & Ors on 15 December, 2021
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH,
NEW DELHI
Company Appeal (AT) (Ins) No.1048 of 2021
IN THE MATTER OF:
Rakesh Kumar Agarwal & Anr. ...Appellants
Vs.
Commissioner of CGST & Ors. ...Respondents
Present:
For Appellant: Mr. Mustafa Doctor, Sr. Advocate with Mr. Anirudh
Hariani, Mr. Rajesh Bohra, Advocates
For Respondent: None
ORDER
(Through Virtual Mode) 15.12.2021: This appeal has been filed against the order dated 27.07.2021 passed by the Adjudicating Authority by which, application filed by the Appellant being I.A. No. 1610/2021 has been rejected. The application was filed by the Appellant seeking a direction to R-21 and R-22 to vote on the 'Modified Resolution'.
Learned Counsel for the Appellant submits that in the 'Resolution Plan' itself there was a clause that Resolution can be modified with 70% vote. The Adjudicating Authority has rejected the application observing that Tribunal shall not interfere in the commercial wisdom of the CoC. We see no reason to entertain this appeal. We, however, grant liberty to the Appellant to submit a representation to the CoC for its consideration of modified resolution. We, however, make it clear that we are not Company Appeal (AT) (Ins) No.1048 of 2021 ...contd./ 2 expressing any opinion on merits of the claim of the Appellant and it is for the CoC to take decision in accordance with law. With these observations, the appeal is dismissed.
[Justice Ashok Bhushan] Chairperson [Justice Jarat Kumar Jain] Member (Judicial) [Dr. Alok Srivastava] Member (Technical) ss/nn Company Appeal (AT) (Ins) No.1048 of 2021