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Judgment
This Appeal has been filed against the Order passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench, Court 1) dated 08.12.2020 in CP (IB) No.563/9/NCLT/AHM/2018 by which the Application under Section 9 was admitted and CIRP (Corporate Insolvency Resolution Process) proceedings were initiated against the Corporate Debtor- E-Complex Pvt. Ltd. The Appellant, which is holding company of the Corporate Debtor, has filed this Appeal. It has been submitted that the holding Company is also under CIRP.
Learned Counsel for the Respondent submits that Resolution Plan has already been submitted before the Adjudicating Authority. This Appellate Tribunal on 30th November, 2021 recorded the submissions of the Respondent that Resolution Plan has already been submitted, time was given to the Appellant to obtain instructions. Learned Counsel for the Appellant today submits that he has not been able to obtain instructions.
Be as it may, Resolution Plan having already been submitted which is pending consideration before the Adjudicating Authority, we are of the view that no useful purpose will be served in keeping this Appeal pending. It shall be, however, open to the Appellant to raise such objection as permissible under law with regard to the Resolution Plan.
With these observations, the Appeal is disposed off.