2022 (1) TMI 769

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....ra , Member ( T ) For the Appellant : Pratik Thakkar, Ld. Counsel For the Respondents : Saurabh Soparkar, Ld. Sr. Counsel ORDER 1. This application has been filed by the applicant N.R. Brothers Multitrade LLP, under Section 60(5) read with Section 30 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as IBC, 2016) read with Rule 11 of the National Company Law Tribunal Rules, ....

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....bmitted by the applicant that 180 days of CIRP expired on 16.08.2021. However, this Adjudicating Authority vide order dated 31.08.2021 grant extension of 90 days and therefore, the CIRP period got extended till 14.11.2021. 4. It is submitted by the applicant that the applicant through email dated 30.09.2021 expressed its willingness to submit the resolution plan, to which the Respondent No. 1 rep....

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....he respondents to consider the resolution plan of the applicant then the applicant will submit the Demand Draft or Bank Guarantee of Rs. 20,00,000/- and will also submit the resolution plan within two weeks from the date of order or the information memorandum received by the applicant. 7. It is submitted by the Respondent No. 1 that pursuant to the publication of Form-G on 09.06.2021, 5 prospecti....

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....ent No. 1 that the CoC in its 7th meeting dated 01.10.2021 has approved the resolution plan with 100% voting and the respondent No. 1 has filed an application under Section 31(1) before this Adjudicating Authority on 22.10.2021 for the approval of the resolution plan as approved by CoC. 10. Heard the Learned Counsel for the applicant & the respondent No. 1 and perused the material on record, on t....