2019 (6) TMI 523

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....nts : Mr. Ami Jain, Advocate for RP And Mr. Sameer Kakar, RP., Mr. Ramji Srinivasan, Senior Advocate with Mr. Rishi Kapoor and Satish Rai, Advocates, Ms. Ekta Choudhary and Ms. Megha Karanwal, Advocates ORDER In absence of approved Resolution Plan, the Resolution Professional of Abhishek Corporation Limited (Corporate Debtor) filed application under Section 33 of the Insolvency and Bankruptcy Code, 2015 (hereinafter referred to as 'I&B Code') seeking, inter alia, initiation of liquidation of the Corporate Debtor. The application having been approved, the Financial Creditor and the Resolution Applicant have challenged the order dated 11th March, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. ....

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....licants' if any, intend to revise. In the circumstances, we direct the 'Resolution Professional' and the 'Committee of Creditors' to call for urgent meeting of the 'Committee of Creditors' and to give its opinion about the revised 'Resolution Plan' submitted by 'M/s. Manibhadra Polycot' and may ask other 'Resolution Applicants', if any to give their proposal and decide it within fortnight. Post these appeals 'for orders' on 1st May, 2019. In the meantime, it will be open to the Respondents to file reply affidavit within 10 days. Rejoinder, if any, be filed by the Appellants within a week thereof. Until further orders, the liquidation process may continue. The Liquidator will ensure that the Company remains a going....