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Judgment
I.A. No. 2375/2021:
This Appeal has been filed against order dated 10th August, 2021 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad, Court No. 1 by which I.A. No. 520 of 2021 has been disposed of by the Adjudicating Authority. The short order passed by the Adjudicating Authority in I.A. is as follows:
"IA 520 of 2021
Learned Counsel Mr. Arjun Sheth appeared for Applicant. Learned Counsel Mr. Monall Davawala appeared for Resolution Professional. IA 520 of 2021 is filed by one of the Resolution Applicant seeking cancellation of extension of date of filing of resolution plan by Resolution Professional. Learned Counsel for the Resolution Professional appeared and submitted that it has been done after the approval of CoC. At this stage, we do not find any merit in the contention of the Applicant as his plan has not been rejected and is being considered alongwith other plans if submitted within extended time by other Resolution Applicants. In view of this, IA 520 of 2021 stands disposed of."
The Learned Counsel for the Appellant submits that timeline has been breached by accepting resolution plans of other Resolution Applicants whereas the Resolution Plan of the Appellant was already there. Be it as it may. The Adjudicating Authority has rightly observed that the Application has not yet been rejected and Applicant's plan is also under consideration alongwith other plans if submitted within extended time by other Resolution Applicants.
We are of the view that at this stage, it is not necessary for this Court to examine the issue, the matter being open for consideration before the Adjudicating Authority which has to record its acceptance or rejection of the Resolution Plans.
It is always open to the Applicant to raise his contentions, as permissible in law, before the Adjudicating Authority, where acceptance or rejection of plans is still under consideration.
With these observations, the Appeal is dismissed.