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Judgment
It is an application filed by CoC/Applicant for correction of mistake crept in paragraph 14 and 25 of the Order of this Principal Bench dated 30.04.2020, the same is hereby corrected which is as follows:
“14.After the Effective Date (the date on which the Adjudicating Authority passes order approving the Resolution Plan), the Resolution Professional shall cease to be involved in the management and affairs of the Corporate Debtor and during the period between the Effective Date and the Closing Date, monitoring committee shall be constituted which shall comprise of two representatives of financial creditors, two representatives of Successful Resolution Applicant and one external expert nominated by the Successful Resolution Applicant and the financial creditors jointly. The monitoring committee shall supervise the implementation of the Resolution Plan, which shall be dissolved after the Closing Date. The Successful Resolution Applicant intends to retain all employees and supplement with certain key managerial personnel.
25.After the Effective Date (as defined in the Resolution Plan, means the date on which the Adjudicating Authority passes order approving the Resolution Plan), the Resolution Professional shall cease to be involved in the management and affairs of the Corporate Debtor and during the period between the Effective Date and the Closing Date, a monitoring committee shall be constituted which shall comprise of two representatives of financial creditors, two representatives of Successful Resolution Applicant and one external expert nominated by the Successful Resolution Applicant and the financial creditors jointly. The monitoring committee shall supervise the implementation of the Resolution Plan, which shall be dissolved after the Closing Date”.
Accordingly, these two unnumbered applications are hereby disposed of with a direction to carryout the corrections in the Original Order dated 30.04.2020.