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Judgment
Resolution Professional Prashant Jain appeared. Learned Counsel Mr. Kunal Vaishnav appeared. Learned Counsel Mr. Massom Shah appeared.
Learned Counsel Mr Siddarth Kant appeared. Learned Counsel Mr. Yuvraj Thakore appeared.
IA 389 Of 2019 is filed by Resolution Professional. Learned Counsel Mr. Masoom Shah appeared for Resolution Professional. Learned Counsel
Mr. Kunal Vaishnav appeared for Suspended Management. We direct Respondent to file reply within 7 days by giving copy to Resolution
Professional. We direct parties to upload their respective pleadings I documents on E-Portal within Seven (7) days, if already not uploaded.
IA 706 of 2019 is filed by Resolution Professional for passing order of liquidation. Learned Counsel for Resolution Professional brought to our
notice that order of Hon'ble NCLAT in Company Appeal 1029 of 2020 wherein Hon'ble NCLAT held that CoC meeting in which resolution of
liquidation is passed is invalid and void. Since IA 706 of 2019 is based on that resolution, stands disposed of being not maintainable.
IA 788 of 2019, IA 509 of 2020, IA 177 of 2020 and IA 132 of 2021 are filed by prospective resolution who are desirous to submit their plan
Learned Counsel for Resolution Professional. He submitted that 14th CoC meeting is going on and CoC may take decision to publish the fresh EOI.
We make it clear that all these Applicants to approach CoC with their offer and CoC may consider their offer as per rules. In view of this, IA 788 of
2019, IA 509 of 2020, IA 177 of 2020 and IA 132 of 2021 stand disposed of.
IA 302 of 2020 is filed by Gujarat Energy directing Resolution Professional to consider claim. We heard Learned Counsel for the Resolution
Professional. He submitted that new Resolution Professional has been appointed and he may look revise claim afresh. We recorded his statement. In
view of this, IA 302 of 2020 stands disposed of with liberty to approach new Resolution Professional for revised claim
IA 433 of 2021 is filed for challenging the order of liquidation. However, we have disposed of IA 706 of 2019, IA 433 of 2021 became infructuous
and stands disposed of.
IA 389 to appear for further consideration on 31.08.2021