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Judgment
This is an Application filed by Mr. Jagdish Kumar Parulkar, Resolution Professional (Applicant herein) to this Tribunal for seeking rectification of the order dated 17.08.2020 passed by this Tribunal in Misc. Application No. 961 of 2019 under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016.
That applicant states that the Resolution Professional had filed Misc. Application bearing no. 961-2019 for approval of the Resolution Plan. The Misc. Application was allowed by this Tribunal on 17.08.2020.
The applicant further mentioned that there were some clerical/typographical errors in the said order which are as follows:
a. Error1: Para No.9 (iv), page no.5 of the order
The said para no. 9 (iv) mentions about the chart showing the manner in which the Resolution Applicant shall deal with the Operational Creditors. In the said chart, the item nos. 2 to 6 are the related parties to the Corporate Debtor and therefore, the Resolution Applicant had purposely skipped mentioning the names of the entities at item nos. 2 to 6 being the related parties to the Corporate Debtor. The said chart which was mentioned in the said order is as under:
| Sr. No. | To be paid to | Amount (In Rupees) |
|---|---|---|
| 1. | Trade/Operational Creditors | 5,00,000/- |
| 2. | Nanded Treasure Bazar Pvt. Ltd. | 1,50,999/- |
| 3. | Raipur Treasure Island Pvt. Ltd. | 3,44,57,769/- |
| 4. | Treasure Food & Beverage Pvt. Ltd. | 2,280/- |
| 5. | Treasure World Developer Pvt. Ltd. | 2,80,20,130/- |
| 6. | Ujjain Treasure Bazar | 23,107/- |
| 7. | Employee/Workers | 3,00,000/- |
| 8. | Immediate repairs, maintenance of the mall | 4,10,00,000/- |
| 9. | Capital Expenditure for the Solar Plant at mall | 5,11,00,000/- |
Sr. no. 2 to 6 in the above said chart wrongly typed in place of the chart which should be as follows:
| Sr. no. | To be paid to | Amount (In Rupees) |
|---|---|---|
| 1. | Trade/Operational Creditors | 5,00,000/- |
| 2. | Employee/Workers | 3,00,000/- |
| 3. | Immediate repairs, maintenance of the mall | 4,10,00,000/- |
| 4. | Capital Expenditure for the Solar Plant at mall | 5,11,00,000/- |
This chart should be read in place of the paragraph existing in the order. This is accordingly rectified.
b. Error 2: Para No. 11, page no. 7 of the Order
The Para No. 11 of the order as under:
“The RP has filed this application under Section 30(6) and 31 of the Code, seeking orders for approval of the resolution plan for the Corporate Debtor submitted by the erstwhile director of the Corporate Debtor on behalf of the Corporate Debtor as approved by the members of Committee of Creditors (CoC) in its 14th meeting with 100% voting share by the CoC”
The applicant states that as highlighted above is wrongly typed as ‘erstwhile director of the Corporate Debtor’ in place of ‘Resolution Applicant’.
Accordingly, in the abovementioned case the corrected para no. 11 in the order dated 17.08.2020 should be read as under:
“The RP has filed this application under Section 30(6) and 31 of the Code, seeking orders for approval of the resolution plan for the Corporate Debtor submitted by the Resolution Applicant as approved by the members of Committee of Creditors (CoC) in its 14th meeting with 100% voting share by the CoC”.
c. Error 3: Para No. 14, page no. 7 of the order
“The applicant mentioned that the contents of Para No. 14 are not related to the present CIRP of the Corporate Debtor and seems to have been mistakenly added in the said order. Nothing mentioned in Para No. 14 is in any way related to the Application for approval of Resolution Plan in M.A. 961 of 2019.”
In view of abovementioned case this Bench deletes Para No. 14 of the order dated 17.08.2020 in the said Misc. Application no. 961/2019.
Rest of the order will remain unaltered.
Accordingly, a Corrigendum order is issued rectifying all the defects as sought for in this application.
With the above observations, the Interlocutory Application bearing no. 1553/2020 is allowed and disposed of accordingly.