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Judgment
31.01.2025: This appeal is filed by the Successful Resolution Applicant against the order dated 12.08.2024. Notice in this appeal was issued on
04.09.2024. The said order read as under:
“04.09.2024: Issue Notice. Learned Counsel for the Respondents accepts notice. Learned Counsel for the Respondents are allowed three weeks’ time to file reply limited to the issue payment of PF and gratuity as directed by the Adjudicating Authority in the impugned order.
2.List the Appeal on 24.10.2024.”
The appellant has filed an additional affidavit of Mr. Shankar Sevia Pawar, Joint Member of the Consortium of SRA comprising SKM Steels and Mr. Shankar Sevia Pawar. In Paragraph 2 & 3 the contentions have been raised.
The appellant has also appended the addendum to the resolution plan in which the following averments have been made in regard to financial outlay of the plan:
“The Resolution Applicant in addition to proposed financial outlay of INR 102.47 Cr. proposes to pay INR 0.95 Cr. towards the dues of Employees Provident Fund in full and final settlement against the claim of INR 0.95 Cr within 30 days from the date of disposal of the Company Appeal (Insolvency) (AT) 1736 of 2024 by the Hon'ble NCLAT.”
Counsel for the appellant has submitted that the present appeal does not survive and may be disposed of accordingly.
Counsel for Respondent/ RP and CoC have not raised any objection in this regard rather they have requested that the appellant may be directed to implement the plan as early as possible.
In view of the affidavit dated 23.10.2024 and the addendum to the resolution plan this appeal has become infractuous. Therefore, the present appeal is disposed of. The appellant shall make all endeavors to implement the plan as early as possible in terms of the resolution plan.