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NATIONAL COMPANY LAW TRIBUNAL
Dr. Venkata Ramakrishna Badarinath Nandula, Sh. Charan Singh, JJ
Bank of India – Appellant
Versus
Sainath Estates Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. history of proceedings and liquidation initiation. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8) |
| 2. arguments regarding compliance and payment disputes. (Para 10 , 14 , 15 , 16 , 17 , 18) |
| 3. analysis of liquidation costs and compliance. (Para 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26) |
| 4. revocation of liquidation order and implementation of resolution plan. (Para 27) |
| 5. order for report on implementation and disposal of application. (Para 28 , 29) |
ORDER
1. Before entering into the merits of the present application, we find it appropriate to give a brief history of the proceedings that took place in the present case. The Corporate Debtor was put into Corporate Insolvency Resolution Process (CIRP) by an order of this Tribunal dated 08.07.2019 in C.P. (IB) No. 651/7/HDB/2018. During the CIRP, the Respondent herein submitted a Resolution Plan and the same was approved by the Committee of Creditors (CoC) of the Corporate Debtor on 07.01.2021 with 100% voting in favour of the plan. By an order dated 09.11.2021 in I.A. No. 43 of 2021 in C.P. (IB) No. 651/7/HDB/2018, this Tribunal approved the Resolution Plan for Corporate Debtor submitted by the Respondent herein.
2. This application was f
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