Resolution Applicants was prepared on 07/04/2021 by RP
for the 2nd Expression of Interest issued on 20/03/2021. Eligible Prospective
Resolution Applicants ... Resolution Plan was 18/04/2021 for the 2nd Expression of Interest
issued on 20/03/2021 and the Resolution Applicant submitted the Resolution Plan
inviting the Resolution Plans from the prospective resolution
applicants, no plans were received from any of the
prospective resolution applicants. He submitted, that in
pursuance ... definition of ‘applicant’ in the
Process Memorandum in clause 1.0 would show, that for
being a resolution applicant, one has to be an applicant
18th August 2017
by the Interim Resolution Professional. One of these plans was by
MSL. The other Resolution Applicant whose offer was considered ... resolution process and
the resolution plan to the Board to be
recorded on its database.
(4) The resolution applicant shall, pursuant to the
resolution plan
resolution plan (as submitted by them) being approved
subject to modifications, which is not acceptable to the
resolution applicant, in that case the resolution applicant ... reality, ascribing conditions in the 'Resolution Plan' by the
Appellant/Resolution Applicant is an unacceptable one, in the
considered opinion of this Tribunal
Resolution Applicants had filed their Resolution Plans
within the deadline for submission of Resolution Plan. However, the
Resolution Applicant Karvy Group, tendered its Resolution Plan ... Appellant's Resolution Plan. The evaluation of
Resolution Plans and the selection of one Resolution Plan (of the Successful
Resolution Applicant) over another
whether the Resolution Applicant was eligible on
30.12.2019 when it submitted the first Resolution Plan.
19. As noted above, the Resolution Applicant ... Resolution Applicant, that is, NTPC as well
as another Resolution Applicant Adani Power Limited have submitted their
Resolution Plans by 30.12.2019. The ineligibility
this RFRP is to request
Resolution Plan(s) from Resolution Applicant(s)
who may willing to submit a resolution plan for
Company Appeal (AT) (Insolvency ... pending
detailed consideration of the same by the
Resolution Applicant;
(iv) Grant the Resolution Applicant sufficient
time to re-evaluate its proposals contained
Company Appeal
that the 3rd Respondent is
not ineligible to be a Resolution Applicant.
47. One of the grounds raised regarding ineligibility of the 3rd Respondent ... taking over the ESIL
as a Successful Resolution Applicant thereof. Admittedly, the ESIL is one of the
Shareholder of the Corporate Debtor. In accordance with
held and the resolution was passed to remove the nominee directgor from
directorship thereby ousting the joint resolution applicant and one of the
partners ... held and the resolution was passed to remove the
nominee director from directorship thereby ousting the joint resolution
applicant and one of the partners
Resolution Applicant.
i. any of the condition under the Letter of Intent or the
Successful Resolution Plan are breached;
ii. if the Resolution Applicant fails ... Successful Resolution Applicant within a period 7 (seven)
Business Days (based on the request received from the
Successful Resolution Applicant) upon 100% (one hundred
percent
