2019 (8) TMI 1605

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....Plan. 2. Shri Navin Pahwa, Ld. Sr. Advocate for the RP, reiterated his stand that a copy of the Resolution Plan has already been provided to all the eligible persons / parties in the light of the decision of Hon'ble Supreme Court of India, in the matter of Vijay Kumar Jain v. Standard Chartered Bank. He further informed that by following the observation of this Bench, vide order dated 21.08.2019, the Resolution Professional has now provided a copy of the Resolution Plan to the applicant Enercon GmBh also irrespective of his stand that a SLP being pending before the Hon'ble Supreme Court and the claim/dispute has not yet attained its finality. Hence, such claims need to be treated as a contingent claim. 3. Shri Saurabh Soparkar....

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....ns. Therefore, the RP must furnish all such plans to them, if they are to participate effectively in the meetings of the CoC. He further pointed out that so is the position of the Operational Creditors also (whose dues are more than of 10% of the total debts value of the corporate debtor) and they would certainly have a right to get a copy of the Resolution Plan before such meetings are held, so that they may be able to make effective suggestion/comments, if any, on such resolution plan so as to safeguard their interest adequately. Thus, the Ld. Sr. Counsel invited our attention to paragraphs 9 to 12 of the above stated decision of the Hon'ble Supreme Court. However, for the sake of brevity, such paragraphs are not being reproduced, but....

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....in vs. Standard Chartered Bank Ltd. & Ors. and other relevant decisions. 7. At this juncture, the Ld. Counsel appearing for one of the Operational Creditors, viz. Sonu Cargo Movers (I) Pvt. Ltd. has taken such stand that the other operational creditors should also be provided a copy of the Resolution Plan even they are having less than 10% value of total debts in order to form their opinion as to whether their interest has adequately been taken care of in such Resolution Plan or otherwise and with a view to render substantial justice in the present case. 8. Mr. Baiju Bhagat, Ld. Advocate, appearing on behalf of the dissenting Financial Creditor has contended that their stand and objection for rejection of the Resolution Plan, even the....