2021 (2) TMI 1244

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....) And Janab Mohammed Ajmal Member (Judicial) ORDER IA No. 4003 of 2019&2220 of 2020: Counsel for the Committee of Creditors(Applicants) and Counsel for the Resolution Applicant (Respondent) are present. It is submitted that Resolution Plan was approved on 28th February, 2018. The Resolution Applicant failed to implement the Plan and hence this Application. Heard both the sides.It is revealed t....

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....licant has already deposited Rs. 10,000,000 in lieu of the Bank Guarantee. The Counsel for the RA also submitted that the approval from the Regulatory Authorities were obtained and they are ready to implement the plan as approved by this Bench. The Resolution Applicant assures that the balance sum of Rs. 10 crores will be infused within 2 weeks. No fruitful purpose presently would be served by in....