2025 (3) TMI 1618

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....the Respondent. 2. This Appeal has been filed against the impugned order dated 06.02.2025 passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Court-III in IA No.4529 of 2023. IA No.4529 of 2023 was filed by the Appellant seeking direction as contained in paragraph 1 of the order which are as follows:- "(a) The present Application be allowed by the Hon'ble Tribunal; (b) Allow the Applicant to file its EOI in the CIRP of Nipman Fastener Industries Pvt. Ltd. (c) To direct the RP to consider the EOI and supply a copy of the information memorandum, evaluation matrix and the request for resolution plans; (4) to pass such order(s) as the Hon'ble Tribunal may deem fit and app....

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....She has referred to Regulation 36A of Liquidation Regulations 2016 in support of the submissions. 6. We have considered the submissions of the Counsel for the parties and perused the record. 7. It is useful to notice the observations made by the Adjudicating Authority in paragraphs 24 and 25 which are as follows:- "24. This Adjudicating Authority vide Order dated 09.04.2024 directed the Resolution Professional to consider the Eol of the Applicant and allowed the present Application. The facts and circumstances of the present case reveals that the CoC in its commercial wisdom had already decided for liquidation of the Corporate Debtor in its 16th Meeting held on 01.04.2024. It was affirmed by the CoC that it was not the only E....

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....eliance on the judgment of this Tribunal in "Athena India Opportunities vs. Bhuvan Madan, Resolution Professional of Arshiya Northern FTWZ Ltd.- Company Appeal (AT) (Ins.) No.1607 of 2024" decided on 22.10.2024 which is as follows:- "22.10.2024 - The Learned Sr. Counsel for the Appellant appears and submits the Appellant has filed an Affidavit in view of the settlement arrived between the parties. The paragraphs 3 and 4 of the said Affidavit read as under: "3. I say the Appellant is willing to deposit the requisite Refundable Earnest Money Deposit of INR 10,00,00,000/- (Indian Rupees Ten Crores Only) by way of Demand Draft by 23rd October 2024 through its Indian subsidiary. 4. I further say that the Appellant unde....