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2019 (10) TMI 1356
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....Manorama Kumari, Member (J) and Chocklingram Thirunavukkarasu, Member (T) ORDER The parties are represented through learned counsels. The instant application is pending since February, 2019. On perusal of the record, it is found that the instant application is preferred by the Resolution Applicant (whose plan was rejected) with the following prayers: A. Admit the present Inter....
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....e NCLAT passed an order on 19.12.2018 in Lalit Mishra &Ors. V/s. Sharon Bio Medicine Ltd. &Ors, wherein, the Hon'ble NCLAT observed in Para No.8 which is as under: 8. The restricting of the financial debt as part of the 'Resolution Plan' approved by the Adjudicating Authority under the 'I&B Code' does not envisage complete discharge of the liability of personal guarant....
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.... that in view of the said judgment, a direction may be given to COC to reconsider the plan. There is no dispute with regard to the judgment. However, it varies from case to case. On perusal of the above said order, it is found that the matter relates to some particular case and intervener (Resolution Applicant) is trying to draw inference and thereby trying to convince that subrogation clause i....