order
of the NCLT dated 01.08.2019, granting approval of the
Resolution Plan of the SRA.
7. By an order dated 02.06.2020, NCLAT allowed the appeal ... appreciated by NCLAT. Therefore,
the NCLAT was wrong in its approach even in this regard.
47. Therefore, in fine, the impugned order of NCLAT
barred debts. The
learned senior counsel has also referred to the order of NCLAT dated
02.05.2019 in Company Appeal (AT)(Insolvency ... limitation.
15.2. The learned counsel has further contended that the impugned order
of NCLAT is correct on facts and is in consonance with the intent
resolution process itself.”
21. Submission of the respondents supporting the impugned order of
NCLAT has been in reference to Section ... code. In this case, having appealed against the NCLAT
order with the object of implementing the resolution plan, MSL
cannot be permitted to take
reserving the
orders, looking to the facts and circumstances of the case, we stayed the
operation of the order passed by NCLAT, insofar relating ... vested in the Corporate
Debtor.”21
Appeals before NCLAT: the impugned order
11. Assailing the aforesaid order passed by NCLT accepting the application
days. An appeal to the NCLAT proved successful,
whereby the NCLAT, by order dated 09.05.2018, allowed the
appeal and allowed the entire 55 days ... approved by 86.16%
of the Committee of Creditors. Ultimately, the NCLAT, by the
impugned order dated 14.12.2018, (after omitting to refer to
the order dated
Supreme Court which affirmed the order
of the NCLAT vide order dated 19.11.2018 passed in Civil Appeal
No.10998/2018.
Pursuant to receiving this final ... Supreme Court of India against the order of the
NCLAT and the appeal preferred by them being Civil Appeal
No.5889/2010 (Diary No.1920
Crores, the Hon'ble Supreme Court held that NCLAT Order to match the
payout (offer to other Financial Creditor) is not justified.
40. Learned
same the Appellant approached NCLAT through this
Company Appeal (AT) 213 of 2017. NCLAT set aside the order passed
by the NCLT, Chennai and remanded ... NCLAT, the main
proceeding before the NCLT shall remain stayed till the NCLAT
decides with regard to the justifiability of the interim order. The
NCLAT
lenders as per Resolution
Plan, within three weeks of NCLAT
Order in a Bank account specified by
and under supervision of NCLAT.
ii. Liquidator ... agreed format with the
Registrar, NCLAT for simultaneous
exchange as per Resolution Plans.
v. NCLAT can release the said deposited
amounts
adjudicating authority
could not have been the basis of the order of admission. The NCLAT also
wrongly recorded that there was no further evidence ... made.
8. For all these reasons, we set aside the NCLAT order and restore
that of the NCLT. The resolution proceedings will continue from
