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2024 Supreme(Online)(NCLT) 868

NATIONAL COMPANY LAW TRIBUNAL
Dr. Venkata Ramakrishna Badarinath Nandula, MEMBER (JUDICIAL), Sh. Charan Singh, MEMBER (TECHNICAL)
Coleta Software Solutions Pvt Ltd – Appellant
Versus
Covidh Technologies Ltd – Respondent


Advocates:
For the Applicant: Shri Maligi Madhusudhana Reddy, CA, FCA
For the Respondent: N/A

ORDER

1. This Application is filed by the Applicant/ Successful Resolution Applicant under Section 60 (5) of the Insolvency and Bankruptcy Rules, 2016 read with Rule 11 of NCLT Rules praying to modify the Order dated 10.01.2022 approving resolution plan with revised shareholding pattern as required under Rule of 19A (5) of the Securities Contracts (Regulation) Rules, 1957 by maintaining the public shareholding of 7.24% of the equity resulting implementation of the resolution plan as approved under 31 of the Insolvency and Bankruptcy Code, 2016 and to pass any other order/ orders this Tribunal may deem fit and appropriate in the interest of justice.

2. The averment s put forth by the Applicant are:

2.1 It is averred that this present application is filed by the Applicant/ Mr. Ganara Narsi Reddy who is the Successful Resolution Applicant submitted that the Resolution Plan for revival of Corporate Debtor which was approved by its Committee of Creditors (CoC) and approved by this Hon’ble Tribunal vide IA No. 393/2021 Orders dated 10.01.2022. 2.2 It is averred that this Tribunal ordered initiation of Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor on 05.01.2020 which

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