2018 (7) TMI 2158

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....l Bhat, Member (Judicial) For the Appellant : Mr. Judy James, Advocate. ORDER The Appellant, one of the 'Resolution Applicants' has preferred this appeal against the order dated 21st March, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad, in CP (IB) 172/10/HDB/2017. By the impugned order, the Adjudicating Authority passed order under Sectio....

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....r, we find that the 'Resolution Applicant' has already filed the 'Resolution Plan'. 5. It is submitted that the 'Resolution Applicant' has shown in the plan to deposit Rs. 5 Crores in the form of Fixed Deposit, out of the said amount, the 'Resolution Applicants' deposited Rs. 2 Crores. Further, undertaking was given by the 'Resolution Applicant' (Appellant) that he will invest a sum of Rs. 7 cror....

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....72;Company Appeal (AT) (Insolvency) No. 124 of 2018" dismissed the appeal. This Appellate Tribunal held that all the 'Resolution Plans' were taken into consideration by the 'Committee of Creditors'. However, in absence of any viable 'Resolution Plan' and due to paucity of time they recommended for liquidation of the Company. 7. So far as viability or feasibility of 'Resolution Plan' is concerned,....