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Judgment
Heard Learned Counsel for the Appellant. This Appeal has been filed against the order dated 28.10.2021 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-IV, by which the Application filed by the Promoter was considered and direction was issued to the Resolution Professional to put all the Resolution Plans to re-voting by Committee of Creditors under Regulation 39(3B) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulation, 2016.
Learned Counsel for the Respondents submits that after the order of the Adjudicating Authority all the Resolution Plans were considered for re-voting on 10.11.2021 and 11.11.2021 and Letter of Intent has been issued on 13.11.2021 and now Application shall be filed before the Adjudicating Authority for approval of the Resolution Plan which has been approved by Committee of Creditors.
In view of the subsequent event, we are not inclined to entertain this Appeal. It shall be open for the Appellant to raise all his submissions when the plan with regard to which Letter of Intent has been issued comes for approval before the Adjudicating Authority. We make it clear that we have not expressed any opinion on the issues which have been raised in the present Appeal. The Adjudicating Authority shall take a decision on the resolution plan in accordance with law.
The Appeal is dismissed.