Tribunals and CommissionsDivision Bench(2022) 09 NCLT CK 0568

Asset Reconstruction Company (India) Ltd. vs Uday Estates Pvt. Ltd.

National Company Law Tribunal · Decided on 19 September 2022

HON’BLE JUDGES
P.S.N. Prasad, Member (Judicial) · Rahul Bhatnagar, Member (Technical)
CASE NUMBER
IB-393/ND/2021 (New IA/4477/2022)

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Judgment

1 paragraphs · 129 words

Heard the submissions made by Ld. Counsel for the Resolution Professional as well as Resolution Professional. This is an application under Section 30(6) of IBC placing the Resolution Plan for approval. Ld. Counsel has submitted that the CoC has with 100% majority share approved the Resolution Plan. However, in the interest of justice and to ensure compliance of principles of fair play and justice, let public notice be issued calling for objections, if any. Let public notice be displayed on the website of IBBI and also in two local newspapers, one in English and another one in Hindi, where the property of the Corporate Debtor is situated. The Resolution Professional may file affidavit of service of public notice before the next date of hearing. List the matter on 11.10.2022.