DILIP SINH MADANSINH SISODIYA Vs. ADJUDICATING OFFICER

JUDGEMENT

(1.) Civil Application No.1 of 2019 is filed for vacating of interim relief granted by this Court vide order dated 20.06.2019 in the main matter.

(2.) The petition is filed seeking direction to NCLT to hear application of the petitioner on urgent basis or atleast before meeting of COC which is scheduled on 21.06.2019. The case in short of the petitioner is that the petitioner who is Time Sharing Member of the corporate debtor was initially treated as a class and financial creditor with total claim of Rs.82,28,68,000/- with voting share at 5.90% by the IPR in its first report to COC dated 29.05.2019. Thereafter, Time Sharing Members as a class were not considered as financial creditors but were categorized as corporate creditors, thereby losing their right to have voting share. This was done without bringing it to the notice of the petitioner and /or any Time Sharing Member.

(3.) With this background, this Court passed order on 20.06.2019 staying meeting of COC scheduled on 21.06.2019.