submitted that the total consideration viz. upfront consideration and deferred
consideration aggregating to a sum of INR 480 crores paid ... Convertible Debentures' (Deferred Consideration) was required to have been paid
on or before 10.01.2020. In fact, MA No. 249/20 was heard
Crores
within 60 days of NCLT Order and deferred consideration of Rs. 102
Crores payable within 12 months from the date of NCLT Order
filed by the Appellant seeking recall of admission order
deferred consideration of the issue raised until final disposal of the
petition after observing that Respondent ... prudent on the part of the
Adjudicating Authority to defer consideration of the pivotal issue having
significant impact on the 'Corporate Insolvency Resolution Process
parties and the material on
record, following question arise for consideration:
(I) Whether after approval of the Resolution Plan by
Committee of Creditors under Section ... Proposal
under Section 12A (filed by Ex Promoter) can be
entertained deferring consideration of approval of
Resolution Plan by the Adjudicating Authority?"
18. This
parties and the material on record, following question arise
for consideration:
(I) Whether after approval of the Resolution Plan by Committee of
Creditors under Section ... Proposal under Section 12A (filed by Ex-
Promoter) can be entertained deferring consideration of
approval of Resolution Plan by the Adjudicating Authority?
Company Appeal
Authority for its approval, any 12A settlement proposal can be entertained
deferring consideration of approval of the resolution plan by the Adjudicating
Authority.
25. While
that the Resolution Plan submitted by the
Appellants was taken up for consideration along with other Prospective
Company Appeal (AT) (Insolvency ... record that upon insistence of Appellants' representative
Committee of Creditors deferred consideration of the Prospective Resolution
Plans but made it clear that they would
proposal under Section 12A (filed by ex-promoter) can be entertained deferring
consideration of approval of resolution plan by the AA?' This question
month, from the present to the applicants;"
5. The Tribunal deferred the consideration of these prayers till the disposal
of the appeal by this ... NCLAT vide order dated 11.08.2023.
3. Therefore, we defer the consideration of both IAs till the disposal
of the appeal
that had been
taken on IA (IBC)/261/2026, except for deferring consideration of the effect of an
order of 20.01.2026 on IA (IBC)/1033 ... direct prejudice to the
Appellant, where the direction is for deferring the consideration of the effect of
an order dated 20.01.2026 on IA (IBC)/1033
