2020 (12) TMI 284

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Company Appeal (AT) (Insolvency) No. 1022 of 2020 Company Appeal (AT) (Insolvency) No. 1023 of 2020 - -<br>Insolvency & Bankruptcy<br>[Justice Bansi Lal Bhat] Acting Chairperson And [Justice Anant Bijay Singh] Member (Judicial) For the Appellant : Mr. Vikrant Singh Bais, Advocate ORDER Delay in re-filing the appeals is condoned. Order delivered on 11th November, 2019 by the Adjudicati....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n submitted by the sole Resolution Applicant received unanimous approval of the Committee of Creditors after the dissenting creditors did fall in line and conveyed their assent to the Committee of Creditors. Thus, the approval by Committee of Creditors was with 100% vote shares. It is not in controversy that the claims filed by the Appellants were rejected on ground of delay before approval of the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e been victimized for the wrongful acts of the Directors of the Corporate Debtor who kept on giving false assurances to the Appellants. It is submitted that the Appellants had taken loan which was advanced to the Corporate Debtor and the private lenders had filed various criminal cases against the Appellants. Lastly, it is submitted that the Corporate Insolvency Resolution Process (CIRP) period wa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the same appeal paper book is the copy of order passed by the Adjudicating Authority extending CIRP period by 90 days. This happened on 11th September, 2019. Subsequently, the prayer of Appellant seeking direction from the Adjudicating Authority in the name of Resolution Professional to accept the supporting document in support of the claim came to be turned down in the face of delay and latche....