2022 (3) TMI 1001

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....Bankruptcy<br>[Justice Ashok Bhushan] Chairperson, [Dr. Alok Srivastava] Member (Technical) And [Shreesha Merla] Member (Technical) For the Applicants : Mr. Angad Mehta, Mr. Narendar Naik, Advocates For the Respondents : Mr. Raunak Dhillon, Mr. Adarsh Saxena, Mr. Shubhankar Jain, Ms. Ritu Vishwakarma, Ms. Drishti Das, Mr. Yash Johri, Mr. Abhijeet Das, Mr. Vikash Kumar Jha, Ms. Isha Malik, Mr....

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....solution Framework, the Resolution Plan which was submitted by Respondent No.4 was approved by the Board of Directors and thereafter the same also received the approval by Justice D.K Jain's order dated 24.08.2020 and after the said approval, the Tribunal by impugned order has also approved the Resolution Plan. 3. Shri Raunak Dhillon, Learned Counsel appearing for the Respondent submits that in....

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.... passed through different stages as was contemplated in Resolution Framework and after approval of the Board of Directors, an Application was filed before Justice D.K Jain (Retd.) seeking approval of the sale of the Applicant's and IL&FS Employees Welfare Trust's shareholding in IEISL which was also approved on 24.08.2020. In paras 33 and 34 of the impugned order, following has been noticed:- ....

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....MPL; and b. the acquisition of the 100% of the shareholding of TEL and UWPSL held by IEISL by the Applicant for a nominal sum of INR 1/-; subject inter alia to the approval by this Tribunal." 7. After receipt of the approval by Justice D.K Jain (Retd.), approval application was filed before the Adjudicating Authority which ultimately was approved by the impugned order. All ste....