2017 (10) TMI 1448

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....il Kumar, PCS for the Ld. Resolution Professional (RP). In the present ease, the arguments in respect of the CA No. 159/2017 have earlier been heard and the order was reserved. Meanwhile, another CA No. 174/2017 is filed in respect of making certain grievances against attitude of the RP and on the manner the meeting of COC being conducted which appears to be a sensitive issue and such can be....

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....n and taking into confidence of the other members of the COC and such may not be theme and purport of the present I & B Code. The RP is expected to play a model role by having effective interaction with the members of the COC and to work out collectively for a resolution plan to take care of the paramount interest of the company under resolution. The order impugned prima facie is not legally su....

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....nable conclusion and to safeguard the paramount interest of the company under resolution, otherwise such may not be treated as a healthy practice. Therefore, before deciding the fate of this application, we feel that COC should be given one more opportunity to consider legal opinion before deciding the status of the present applicant EXIM Bank as a financial creditor and to convey its view either ....