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Judgment
This I.A. is filed by Mr Mahavir Prasad Jain & CFM Asset Reconstruction Pvt. Ltd. for quashing and setting aside the decision of the CoC as recorded in the Minutes of the Meeting dated 20th August, 2019 to the extent it permits Rare Asset Reconstruction Ltd. and Brighter Side Renewable Energies Pvt. Ltd. to rectify the defects and/or submit revised plans, and other reliefs.
After hearing all the concerned parties, this Tribunal is of the view that since the Corporate Insolvency Resolution Process (in short, CIRP) is in progress and no final Resolution Plan has been finalized nor submitted before this Tribunal for its approval, it would be premature to entertain any of the contentions raised by the applicant at this stage.
In view of the above circumstances, liberty is granted to the applicants to agitate all or any of the contentions after submission of the Resolution Plan, if required.
The I.A. accordingly stands disposed of.