National Company Law Appellate Tribunal
Forech India Pvt. Ltd vs Tecpro Systems Ltd. & Ors on 23 January, 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal(AT) (Insolvency) No. 706 of 2019
IN THE MATTER OF:
Forech India Pvt. Ltd. ...Appellant
Vs
Tecpro Systems Ltd. & Ors. ....Respondents
Present:
For Appellant: Ms. Purti Marwaha, Ms. Henna George, Ms. Adya
Shree Dutta and Mr. Arvind Kumar Gupta,
Advocates.
For Respondents: Mr. P.V. Dinesh, Mr. Ashwini Kumar Singh and
Ms. T.P. Sindhu, Advocates for Respondent No. 1
With
Company Appeal(AT) (Insolvency) No. 758 of 2019
IN THE MATTER OF:
Tecpro Employees Welfare Association ...Appellant
Vs
Venkatesan Sankaranarayanan (IRP) & Ors. ....Respondents
Present:
For Appellant: Mr. Ashish Kr. Upadhyay and Mr. P. Abinash
Karthik, Advocates.
For Respondents: Mr. P.V. Dinesh, Mr. Ashwini Kumar Singh and
Ms. T.P. Sindhu, Advocates for Respondent No. 1
With
Company Appeal(AT) (Insolvency) No. 890 of 2019
IN THE MATTER OF:
V. Murali ...Appellant
Vs
Venkatesan Sankaranarayanan & Anr. ....Respondents
Present:
For Appellant: Mr. Abhijeet Sinha, Advocate (Amicus Curaie)
Company Appeal (AT) (Insolvency) No. 706, 758 and 890 of 2019 Page 1 of 2
For Respondents: Mr. P.V. Dinesh, Mr. Ashwini Kumar Singh and
Ms. T.P. Sindhu, Advocates for Respondent No. 1
ORDER
23.01.2020 These three Appeals arise out of the acceptance of the Resolution Plan which was approved of M/s Kridhan Infrastructure Pvt. Ltd. with regard to the Corporate Debtor Tecpro Systems Ltd. and the Impugned order dated 15.05.2019 vide which the Resolution Plan was approved.
2. It is stated that during the pendency of these Appeals, the Application under Section 60(5) read with Section 33 of Insolvency and Bankruptcy Code, 2016 (in short 'IBC') was filed by the Resolution Professional and the Adjudicating Authority has, by order dated 16.01.2020 in C.A. 2683 PB/2019 in CP(IB)-197(PB)/2017, passed orders of liquidation of the Corporate Debtor under Section 33(4) of IBC.
3. (A) In view of the above developments, these Appeals are disposed of as having become infructuous.
(B) In case at any point of time, the said order dated 16.01.2020 gets set aside, the present Appellants would have liberty to move before this Appellate Tribunal to restore the Appeal.
[Justice A.I.S. Cheema] Member (Judicial) (Kanthi Narahari) Member(Technical) Akc/Md Company Appeal (AT) (Insolvency) No. 706, 758 and 890 of 2019 Page 2 of 2