2018 (9) TMI 1959

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.... Bansi Lal Bhat Member (Judicial) For Appellant : Mr. Pradeep Misra and Mr. Daleep Dhyani, Advocates For 1st Respondent: Mr. Abhishek Anand and Mr. Anant A. Pavgi, Advocates For 2nd Respondent : Mr. Jayant Mehta, Mr. Sajal Jain and Mr. Mohit D. Ram, Advocates For 3rd Respondent : Mr. R.P. Agrawal, Advocate ORDER The appellant "Madhya Gujarat Vij Company Ltd.', who was one of the 'Operational....

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....al Creditor) but such submission cannot be accepted as there is no requirement to issue notice to the 'Operational Creditor(s)' or any other 'creditors' for approving a 'Resolution Plan' under Section 31 of the I&B Code, having already approved by the 'Committee of Creditors' by majority voting share and in absence of any violation of Section 30(2) of the I&B Code. 3. It was next contended that u....

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....keholders involved in the resolution plan. (2) Where the Adjudicating Authority is satisfied that the resolution plan does not confirm to the requirements referred to in sub-section (1), it may, by an order, reject the resolution plan. (3) After the order of approval under sub-section (1),- (a) the moratorium order passed by the Adjudicating Authority under section 14 shall cease to have eff....