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Judgment
Company Appeal (AT) (Insolvency) No.998 & 999 of 2023
This Appeal has been filed against the order passed by the Adjudicating Authority dated 17.05.2023 by which order the Adjudicating Authority has rejected the IA No. 750/2022 for approval of Resolution Plan. The said order was passed on the application filed by the ‘Yes’ Bank being IA No. 650/2022.
The objection was taken by the Applicant regarding the personal guarantee.
This Appeal has been filed by the SRA challenging the order. The additional affidavit has been filed whereas the Appellant has brought on record the settlement dated 21.07.2023. It is submitted that in view of the letter dated 21.07.2023 issued by J.C. Flowers, assignee of the Yes Bank, the objection has been given up in terms of the settlement letter dated 21.07.2023.
In view of the aforesaid, we are of the view that the Adjudicating Authority to consider the IA No. 750/2022 afresh, the objection having been withdrawn. It is made clear that other applications which shall revive consequent to this order shall also be considered as per the impugned order. Learned Counsel for the parties request for early disposal of the appeal.
In view of our order in Company Appeal (AT) (Insolvency) No.998 & 999 of 2023 the Company Appeal (AT) (Insolvency) No.1004 of 2023 is permitted to be withdrawn.