ORDER

(Hybrid Mode)

03.10.2024:

The Appellant in the instant company appeal has put a challenge to the Impugned Order dated 12.06.2019, & 04.11.2019, as it has been passed in CP(39/IB/2018) by NCLT, Chennai, by virtue of which and as a consequence thereto the resolution plan, submitted before it for approval was affirmed and stood approved in favour of Respondent No.3, and the challenge to it by way of objection was rejected. What is peculiar in this case is that after the approval of plan in favour of Respondent No.3, by an order of 12.06.2019, the appellant sought a recall of the said order by filing of an application before the Learned Adjudicating Authority, which was more in the form of a review which too stood rejected by an order of 04.11.2019.

Being aggrieved against the orders of NCLT dated 04.11.2019, the appellant has preferred the respective Revision petitions in the CRP No. 499/2020 & CRP No. 2663/2020 M/s Hero Exports Vs. K Vasudevan & Ors. before Hon’ble High Court of Judicature of Madras. The Hon’ble High Court of Madras decided the above two CRPS by the judgment of 11.02.2020, and dismissed the CRPs on the ground, that no direction as such could be given to the NCLT C