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Judgment
This application has been filed for clarification of our judgment dated 18.11.2024 prayer made in the application is as follows:-
“RELIEFS SOUGHT
a. Allow the present Application and pass an order providing clarification of the order dated 18 November 2024 to the extent that the said order does not create an embargo on the adjudication of the Interlocutory Application No. 5728 of 2024 in Company Petition (IB) No. 639 (PB)/2018 and further distribution of INR 18,98,31,082/- (Rupees Eighteen Crore Ninety Eight Lakh Thirty One Thousand Eighty Two) as corporate insolvency resolution process costs;
b. Pass any such orders as may be deemed fit and proper by this Hon’ble Tribunal.”
The appeal which was filed by the State Tax Officer against the judgment of Adjudicating Authority approving the resolution plan was disposed of by our order dated 18.11.2024. Taking into consideration para-11.4 of the order of Adjudicating Authority, we have observed that interest of the appellant is amply protected by the Adjudicating Authority since the entire plan amount has been deposited with the State Bank of India. This application has been filed on behalf of the Erstwhile Resolution Professional as the Chairman of the Monitoring Committee seeking clarification.
It is submitted by Shri Sunil Fernandes, Sr. Advocate appearing for the applicant that an application was filed before the Adjudicating Authority being I.A. No. 5728 of 2024 seeking a direction for disbursement of CIRP Cost which although was allowed on 03.12.2024 but has been recalled by the Adjudicating Authority by the order 04.12.2024. The order of 03.12.2024 has already been recalled and the application no. 5728 of 2024 stands revived and pending before the Adjudicating Authority. The Adjudicating Authority is not precluded to consider any application including I.A. 5728 of 2024 by judgment of this Tribunal dated 18.11.2024.
We however make it clear that we are not expressing any opinion on the merit of the application IA No. 5728 of 2024 and Adjudicating Authority is to decide afresh after hearing all the concerned parties.
Shri Mittal appearing for the largest Member of the CoC submits that Adjudicating Authority may be directed to consider and dispose of all the pending applications to close the matter. It is always open for the applicant to make a request before the Adjudicating Authority for consideration and disposal of the applications.
With these observations, we dispose of the application.