2022 (8) TMI 1478

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....IRA BANERJEE AND HON'BLE MR. JUSTICE M.M. SUNDRESH For the Appellant : Ms. Meenakshi Arora, Sr. Adv. Mr. Sunil Reddy, Adv. Mr. Yelamanchili Shiva Santosh Kumar, Adv. Mr. Rudrajit Ghosh, Adv. Mr. Tarun Gupta, AOR Mr. Abhishek Sharma, Adv. For the Respondent : Mr. Sanjay Kishan Kaul, Sr. Adv. Mr. Abhinav Mukerji, AOR Mr. E.V.S. Venugopal, Adv. Mrs. Bihu Sharma, Adv. Ms. Pratishtha Vij, Adv....

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....@ 8% per annum, this 'Tribunal' is granting 'three months' time from today, to pay the 'residual balance amount' in the 'Designated Account' along with 'overdue interest' @8% per annum from 23.01.2022. It is abundantly made clear by this 'Tribunal' that the implementation of the 'Resolution Plan' can go on and the 'Monitoring Committee' is permitted to perform the act of 'partial disburse....

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....0 in CP(IB)-372/7/HDB/2018 are to the fact that "we are very upset with the manner in which the 'Monitoring Committee' has given a very very long rope to the Applicant in making the payment. We get a doubt on the fairness of the 'Monitoring Committee' with regard to implementation of the Resolution Plan to that extent is expunged by this Tribunal in furtherance of 'substantial cause of justice'. ....

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.... Authority seeking extension of time by 60 days to make the deposit. By an order dated 02.02.2022, the Adjudicating Authority granted two weeks' time to the Respondent No. 1 to make the payment. Against the aforesaid order, the Respondent No. 1 appealed to the NCLAT under Section 61 of the IBC. The impugned order has been passed in the said appeal. The Appellant, who as stated above, is an O....