TaxTMI 
TaxTMI 
2026 (8) TMI 525
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....dharth Makkar, Ms. Ritika Gaur, Mr. Pulkit Joshi, Advocates for R-1. Mr. Abhishek Anand, Mr. Karan Kohli, Ms. Palak Kalra, Advocates for R-2. Mr. S. Niranjan Reddy, Sr. Advocate and Mr. Vaibhav Gaggar, Sr. Advocate with Mr. Vishesh Kalra, Ms. Sonia Sharma, Ms. Charu Bansal, Advocates for R-3. ORDER Yogesh Khanna, J. This application is filed requiring the Respondent to comply with directions and orders passed in order dated 03.12.2025 in I.A. No.646/KB/2022 and affirmed by order dated 30.06.2026 passed by this Tribunal and also direct the Respondent to comply with the resolution passed by the CoC in its 22nd meeting convened on 23.06.2022 and voting held on 24.06.2022. 2. Learned senior counsel for the Applicant/Appellant ....
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....t to the outcome of the aforesaid appeals pending before the Hon'ble NCLAT and successful resolution applicant is bound by its affidavit dated 01/09/2025 (para 11 and 12) plan being unconditional." 4. Thus, it is the submission of the learned senior counsel for the Appellant in case the verification of the claim is under litigation, the said amount shall be kept deposited in an interest bearing account under the control of the Steering Committee until the verification and admittance of its claim is adjudicated by Tribunal or Appellate forum and till the matter attains finality. It is submitted the disputed claim is still under litigation in Civil Appeal No.8983-8985 of 2026 before the Hon'ble Supreme Court wherein vide order dated 20....
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....the Appellant has not made out any case for grant of any relief in Company Appeal (AT) (Ins.) No.192 of 2026. 72. We answer Question Nos.(VII) and (VIII) in following manner: Answer to Question No. (VII): Tropical has not made out any case to partially set aside the order dated 03.12.2025 in IA No. 646/KB/2022. The directions issued by Adjudicating Authority in Paragraph-49 need no interference. Answer to Question No.(VIII): The decision taken by the CoC in its 22nd Meeting regarding, disbursement of the amount under the Resolution Plan as submitted by SRA, is in accordance with law. 73. We have noticed above the resolution of the CoC approving the Resolution Plan subject to adjudication of pending claims....
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....iversal Berhad or the assignee, i.e. Tropical with respect to immovable assets of the CD and the Tropical is not a 'secured creditor' with respect to immovable assets of the CD. The decision taken by the RP and the Adjudicating Authority is modified to the above extent. However, it is for the Monitoring Committee to consider as to whether there are any other secured interest of the Tropical except immovable assets of the CD and to that extent only, if any, the Tropical is 'secured creditor', which is apart from immovable assets of the CD. 74. In result of the foregoing discussions and our conclusions, we decide all these Appeal(s) in following manner: (i) Company Appeal (AT) (Ins.) No. 662 of 2025 and Compa....
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....eply of the Respondents is the claim of the Appellant is crystalized to Rs. 85,79,26,944/- (principal amount) vide order and judgment dated 30.06.2026, as stated in its Para 74 (Supra). The Applicant argues the directions given in Para 74 of the judgment dated 30.06.2026 be read in consonance with the decision taken in 22nd meeting of the CoC. 8. We are of the considered view this application is misconceived as the judgement dated 30.06.2026 not only has crystalized the amount qua the admitted claim of the Appellant but has also directed the Monitoring Committee to consider the amount allocated in the Resolution Plan for re-distribution and to give effect to the orders and directions passed in the Appeal(s), subject to which the Resoluti....