2021 (4) TMI 237

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....nt in the instant Company Appeal (AT)(Ins) No.11 of 2021, when this Tribunal posed a query to the Learned Counsel for the Appellant as to how the instant appeal is per se maintainable in the teeth of ingredients of Section 33(2) of the Insolvency & Bankruptcy Code, 2016, coupled with the judgement of the Hon'ble Supreme Court dated 10.3.2021 in Civil Appeal 2943-2944/2020 with Civil Appeal Nos.3138-3139 of 2020, Civil Appeal No.2949-2950 of 2020, Civil Appeal No.847-848/2021 (D.No.24125 of 2020) in the matter of Kalpraj Dharamshi & Anr. V. Kotak Investment Advisors Ltd. & Anr. Wherein and where under at Paragraphs 155 to 159, it is observed as under : Para 155. "It would thus be clear, that the legislative scheme, as interpreted by....

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.... thumping majority of 84.36%. 157. It is further to be noted, that after the resolution plan of Kalpraj was approved by NCLT on 28.11.2019, Kalpraj had begun implementing the resolution plan. NCLAT had heard the appeals on 27.2.2020 and reserved the same for orders. It is not in dispute, that there was no stay granted by NCLAT, while reserving the matters for orders. After a gap of five months and eight days, NCLAT passed the final order on 5.8.2020. It could thus be seen, that for a long period, there was no restraint on implementation of the resolution plan of Kalpraj, which was duly approved by NCLT. It is the case of Kalpraj, RP, CoC and Deutsche Bank, that during the said period, various steps have been taken by Kalpraj by spe....