2019 (8) TMI 1925

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....ncy) No. 657 of 2019 - -<br>Insolvency & Bankruptcy<br>Justice S.J. Mukhopadhaya Chairperson, Justice A.I.S. Cheema Member (Judicial)And Kanthi Narahari Member (Technical) For Appellant : Mr. Krishnendu Datta, Mr. Abhirup Das Gupta, Mr. Ishaan Duggal and Ms. Niharica Khanna, Advocates JUDGMENT SUDHANSU JYOTI MUKHOPADHAYA, J. In the 'Corporate Insolvency Resolution Process' against 'Calyx C....

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....Committee of Creditors' approved the same by 77.08% voting share. 3. Learned counsel appearing on behalf of the Appellant submitted that the impugned order approving the 'resolution plan' submitted by consortium of the 3rd and 4th Respondent amounts to accepting 95.2% waiver/haircut of the dues. The assignor of the Appellant i.e. Dena Bank, recorded its dissent against the haircut of more than 95....

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..... 5. Learned counsel for the Appellant - 'assignee of Dena Bank' further submitted that the Appellant is the only 'Financial Creditor' holding exclusive mortgage and cannot be treated at par with other 'Financial Creditors'. Reliance has been placed on the decision of this Appellate Tribunal in 'Binani Industries Limited vs. Bank of Baroda & Anr.' - '2018 SCC OnLine NCLAT 565' to suggest that the....