JUDGEMENT

Ashok Bhushan, J: 1. These Appeals have been filed challenging two separate Orders dated 03.02.2022 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Special Bench, Court II). The First Order dated 03.02.2022 (hereinafter referred to as “Plan Approval Order”) was passed in I.A. No. 1447/MB/C-II/2021 in CP(IB) No. 1790/MB/C-II/2017 approving the Resolution Plan on the application filed by the Resolution Professional.

The Second Order dated 03.02.2022 (hereinafter referred to as “Clarification -3- Company Appeal (AT) (Insolvency) No. 172-173, 199-200 of 2022 Order”) was passed in I.A. No. 1799/MB/C-II/2021 in CP(IB) No. 1790/MB/C-II/2017 on the Application filed by the ICICI Bank. Both the above Orders dated 03.02.2022 have been challenged in these Appeals, respectively.

2. The facts and issues raised in these Appeals being common they have been heard together and are being disposed of by this common Judgment.

3. Brief facts of the case necessary to be noted for deciding these Appeals are:

 Corporate Insolvency Resolution Process (CIRP in short) was initiated of the Corporate Debtor-Ushdev International Limited vide Order dated 14th Ma