Tribunal grants access to Resolution Plan for appeal, balancing confidentiality and appellant's rights.

The Tribunal ruled that the Resolution Plan, once approved, is not confidential and should be accessible to claimants with a genuine interest. The Appellant, representing aggrieved workmen, was granted access to the relevant part of the Resolution Plan for their appeal within three weeks. The decision balanced confidentiality during the Corporate Insolvency Resolution Process (CIRP) with the Appellant's right to necessary information for their appeal under the Insolvency and Bankruptcy Code.

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Issues Involved:
1. Entitlement of the Appellant to a copy of the Resolution Plan.
2. Confidentiality of the Resolution Plan post-approval.
3. Right to access the Resolution Plan for effective appeal under Section 61(3) of the Insolvency and Bankruptcy Code (IBC).

Issue-wise Detailed Analysis:

1. Entitlement of the Appellant to a Copy of the Resolution Plan:
The Appellant, an association of aggrieved workmen of Jet Airways (India) Ltd., challenged the order approving the Resolution Plan on several grounds. They sought a copy of the Resolution Plan to effectively support their appeal. The Appellant argued that confidentiality in CIRP proceedings is limited and not meant to be maintained after the CIRP concludes, citing Section 31(3)(b) of the IBC, which mandates the Resolution Professional (RP) to forward all records, including the Resolution Plan, to the Insolvency and Bankruptcy Board of India (IBBI). The Respondents countered that the Resolution Plan is a confidential document and cannot be disclosed without the consent of the Resolution Applicant, and only the Committee of Creditors (CoC) members are entitled to access it.

2. Confidentiality of the Resolution Plan Post-Approval:
The Tribunal examined the confidentiality provisions under the IBC and related regulations. It noted that while confidentiality is maintained during the CIRP, the Resolution Plan, once approved by the Adjudicating Authority, becomes part of the public record. The Tribunal referred to Rule 114 of the NCLT Rules, 2016, which allows parties to inspect the record of the case, including the Resolution Plan. The Tribunal concluded that the Resolution Plan does not remain confidential after approval by the Adjudicating Authority, and the Appellant, being a claimant, is entitled to access it.

3. Right to Access the Resolution Plan for Effective Appeal under Section 61(3) of the IBC:
Section 61(3) of the IBC provides grounds for appeal against the approval of a Resolution Plan, including contravention of law, material irregularity, and non-compliance with criteria specified by the Board. The Tribunal emphasized that to effectively appeal, the Appellant must be aware of the contents of the Resolution Plan. Without access to the Resolution Plan, the Appellant cannot substantiate their grounds for appeal. The Tribunal reaffirmed that the Resolution Plan, after approval, is not a confidential document and should be accessible to claimants who have a genuine interest in the process.

Conclusion:
The Tribunal directed that the relevant part of the Resolution Plan dealing with the claims of workmen and employees should be provided to the Appellant within three weeks. The Tribunal balanced the need for confidentiality with the Appellant's right to access information necessary for their appeal, ensuring that the Resolution Plan's confidentiality is maintained only during the CIRP and not post-approval.

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