HARI BABU THOTA Vs. XXX

JUDGEMENT

(1.) Shree Aashraya Infra-Con Limited went into CIRP under the Insolvency and Bankruptcy Code, 2016 [for short "the Code"] and the appellant before us was appointed as the Resolution Professional. The Resolution Professional presented a plan before the National Company Law Tribunal, Bengaluru as propounded by the promoters and approved by the Committee of Creditors [COC] but in terms of the order dtd. 28/2/2023, the application was dismissed on the ground that the promoters could not have presented the plan. It is the say of the appellant before us that this has far reaching consequences for him and his role as the Resolution Professional as:

(2.) Since there was really no representation on behalf of the other side, we appointed Mr. Bishwajit Dubey, learned counsel as Amicus in the matter.

(3.) We have heard learned counsel for the appellant/Resolution Professional and the learned Amicus not only because it would affect the professional abilities of the appellant but because certain issues required adjudication by us, more so, in view of the impugned order relying on an earlier order of the National Company Law Appellant Tribunal in Digamber Anand Rao Pingle v. Shrikant Madanlal Zawar & Ors,Comp. App. (AT) (Ins.) No.43-43A/2021.