2021 (3) TMI 756

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.... P. (IB) No. 1613 /MB/ 2018. - -<br>Insolvency & Bankruptcy<br>SMT. SUCHITRA KANUPARTHI Judicial Member and V. NALLASENAPATHY Technical Member Sushila Vichare for the applicant. Jehaan Mehta with&nbsp; Amey Hadwale and Geeta Lundwani (for resolution professional) for the respondent. ORDER This is an application filed by the applicant/operational creditor under section 60(5) of the Inso....

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.... The applicant submits that they are in constant touch with the interim resolution professional (hereinafter referred as IRP) through phone messages with regard to the status of the claim. However, the IRP had been merely informing the applicant that the process is on and she would be finalizing the report within the time stipulated by the National Company Law Tribunal. 4. On September 16, 2019....

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...., the applicant cannot be deprived of its right to get a copy of the information memorandum and resolution plan so that the applicant can safeguard its interest. 6. The applicant further submitted that the IRP has acted in contravention of its duties and arbitrarily deprived the applicant copy of information memorandum and resolution plan. The applicant further submits that this Tribunal can en....

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.... respondent submits that she has relied on the judgment of the hon&#39;ble Supreme Court in Vijay Kumar Jain v. Standard Chartered Bank [2019] 5 Comp Cas-OL 531 (SC), in which the court has carved out an exception and laid down a ratio that the erstwhile directors and the operational creditors are also entitled to get a copy of resolution plan provided that the admitted debt of the operational cre....