2020 (9) TMI 1223

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....idered as void in light of Section 24 and 25(2) of the Insolvency Code and in view of the Law laid down by the Hon'ble Apex Court. b. To direct the Resolution Professional to call the Suspended Management in the CoC meeting after giving the Agenda and to supply/provide the copy of Resolution Plan received by the RP before taking any decision of the Resolution Plan whether being accepted or not. c. During the pendency of this IA, i. Restrain the Resolution Professional from acting on the resolution plans ii. Stay the further proceeding of the Resolution Process. d. Pass such other and further orders as this Hon'ble Tribunal may deem just and proper. 2. The facts of the case are stated herein: ....

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....s and an attempt to deceive this Hon'ble Tribunal from the misdeeds and frauds that have been committed by the Applicant in the Corporate Debtor Company which are evident from the pending proceedings of the CBI and ED against the Applicant. 2.5 The Learned Lawyer of the RP submitted that the allegation so made by the Suspended Management for not calling in the meeting upto 9t CoC meeting is in violation of Section 25(2)(i) of the IB Code, which provides that the Suspended Board of Management are entitled to have the copies of Resolution Plan as being the participant in the CoC meetings. 2.6 It is further submitted by the RP that there is no dispute with regard to the decision so made by the Apex Court in Vijay Kumar Jain vs. Standard ....

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.... Applicant cannot meet any Bank official. In view of that, the Applicant has requested RP for postponement of the said meetings. The relevant portion of the said email is reproduced herein below: "We desire to move to the Hon Court and seek modification of terms in the bail application till then the meeting should be postponed, or we need to have permission of investigation officer to attend such a meeting." Thus, it is an admitted fact that the Hon'ble Gujarat High Court has debarred the Applicant to meet the Bank officials and as a matter of fact, the bank officials are members of the CoC and their evidence may be required by the CBI for the investigation purpose. Further, the Corporate Insolvency Resolution Process (hereinaft....