2021 (12) TMI 1509

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....uptcy<br>Dr. Deepti Mukesh Hon'ble Member (Judicial) And Kaushalendra Kumar Singh Hon&#39;ble Member (Technical) For the Applicant: Learned Counsel Mr. Nipun Singhvi appeared for the Applicant. For the Respondent : None. ORDER [PER: DR. DEEPTI MUKESH, HON&#39;BLE MEMBER (JUDICIAL)] 1. The Present Application is filed under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016....

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.... shares in clause 21 sub-clause XIII at page 17 of the said order. 3. It is submitted by the applicant that initially a speaking to minutes against the order dated 05.10.2021 was filed before this Adjudicating Authority on 11.10.2021, which was dismissed with following observation: "Such corrections are substantial in nature and cannot be granted on speaking to minutes, Hence, speaking....

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....ules and regulations made thereunder" Clause 4.14 at page 44 of the resolution plan annexed with the IA No. 107 of 2021 is herein below: "It is proposed that the entire shareholding of the promoters and their family members, whether as equity share capital or preference share capital shall be fully cancelled and stand reduced to zero. Nil consideration is proposed on the expectation th....