2024 Supreme(Online)(NCLAT) 520
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Justice Ashok Bhushan (Chairperson) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,
Hemant Shantilal Shah & Anr. – Appellant
Versus
Care office Equipment Ltd. & Ors – Respondent
Ms. Purti Gupta, Ms. Henna George and Ms. Ashmeet Arora, Advocates. Ms. Honey Satpal, Mr. Nipun Singhvi, Mr. Vishal J. Dave, Advocates for R-1. Mr. Krishnendu Datta, Sr. Advocate with Mr. Palash S. Singhvi and Mr. Rajat Sinha, Advocates. Mr. Ashish Rana, Advocate for R-6 to R-8.
JUDGEMENT
[Per: Barun Mitra, Member (Technical)]
- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 (‘IBC’ in short) by the Appellants arises out of the Order dated 20.12.2022 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench, Court-II) in I.A. No. 358 of 2020 in CP (IB) 602 of 2018. By the impugned order, the Adjudicating Authority allowed the I.A. No. 358 of 2020 filed by the Resolution Professional - Respondent No. 2 approving the resolution plan of Respondent No. 5/Sudeep Dasani-Successful Resolution Applicant in respect of the Corporate Debtor-M/s Care Office Equipment Ltd. Aggrieved by this impugned order, the present appeal has been preferred by the Appellants.
2. The brief facts of the case which are relevant to be noticed for deciding this case are as follows:-
- The Corporate Debtor- M/s Care Office Equipment Ltd was admitted into Corporate Insolvency Resolution Process (‘CIRP’ in short) on 29.05.2019 following a Section 9 application filed by an operational creditor.
- The Resolution Professional (‘RP’ in short) constituted the Committee of Creditors (‘Co
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