National Company Law Appellate Tribunal
Sundeep Thakar vs Raj Ralhan Resolution Professional on 19 August 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 681 of 2020
IN THE MATTER OF:
Sundeep Thakar
…Appellant
Versus
Raj Ralhan (Resolution Professional)
…Respondent
Present:
For Appellant:
Mr. Anirudh, Advocate.
For Respondent:
Mr. Sumesh Dhawan, Ms. Vatsala Kak, Advocates for R-1.
Mr.
Abhishek
Anand
and
Ms.
Ankita
Bajpai,
Advocates for Intervenor.
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O R D E R
(Through Virtual Mode) 19.08.2020 After hearing learned counsel for the parties we find that application under Section 31 filed by the Resolution Professional for approval of the Resolution Plan is pending consideration before the learned Adjudicating Authority. Since the decision is yet to be arrived at by the Adjudicating Authority with regard to the Resolution Plan approved by the Committee of Creditors, this appeal is premature.
2. Keeping this scenario in view, learned counsel for the Appellant offers to withdraw the appeal. The Appeal is accordingly dismissed as withdrawn. The Adjudicating Authority will provide an opportunity of hearing to the Appellant before taking a decision in regard to approval or otherwise of the Resolution Plan.
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3. We hope and expect that the learned Adjudicating Authority would accord priority to the matter as the Corporate Insolvency Resolution Process is at the stage of approval of the Resolution Plan. It shall try to dispose of the matter at the earliest.
[Justice Bansi Lal Bhat] Acting Chairperson
[V. P. Singh] Member (Technical)
[Alok Srivastava] Member (Technical) am/gc
Company Appeal (AT) (Insolvency) No. 681 of 2020