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NATIONAL COMPANY LAW TRIBUNAL
Kuldip Kumar Kareer, Member (Judicial), Anuradha Sanjay Bhatia, Member (Technical)
Ms. Teena Saraswat Pandey – Appellant
Versus
S and H Gears Private Limited – Respondent
| Table of Content |
|---|
| 1. application for approval of resolution plan (Para 1 , 2) |
| 2. process of cirp and stakeholder engagement (Para 3 , 4 , 5 , 6 , 7 , 8 , 9) |
| 3. summary of payments to stakeholders (Para 10 , 11) |
| 4. funding and payments outline in resolution plan (Para 12 , 13 , 14 , 15) |
| 5. monitoring and supervision of resolution plan (Para 16) |
| 6. judicial review limitations and commercial wisdom (Para 17 , 18 , 19 , 20 , 21 , 22) |
ORDER
1. This is an Application filed under Section 30 (6) and Section 31 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “Code”) filed by the Resolution Professional seeking approval of the Resolution Plan submitted by the Resolution Applicant, Mr. Gautam R. Gajra (Lead Member), M/s Gajra Gears Private Limited and M/s Elve Corporation (“Gajra Consortium”), which was approved by 77.21% voting share of the members of the Committee of Creditors (hereinafter referred to as ‘COC’).
2. The facts leading to the Application are as under:
i. Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated by this Bench by an order dated 24.01.2020 under Section 7 of the Insolvency and Bankruptcy Code 2016 (hereinafter referre
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