AI Structured Summary
Not yet generated for this judgment
Judgment
27.02.2026 Heard Ld. Counsel for Appellant. This Appeal has been filed against the order dated 18/12/2025 passed in I.A. No 4975/ND/2025. Appellant is an operational creditor, who has filed the Application which prayers are noticed in Para 1 of the order, which is as follows :
1.This is an Application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 11 of the NCLT Rules, 2016, by M/ s Sunrise Mining Company Private Limited ("Applicant") seeking the following relief
I. Allow the present application; and
II. Direct the Resolution Professional to supply a copy of IA. No. 18 of 2025 along with the Resolution Plan approved by the Committee of Creditors to the Applicant; and
III. Allow the Applicant a period of 28 days to file objections to IA 18/ 2025 after receipt of the copy from the Resolution Professional; and
IV. Stay the adjudication of IA. No. 18 of 2025 pending before this Hon'ble Tribunal till the disposal of the present application; and
V. Pass any other such orders as this Hon'ble Tribunal may deem fit in the interest of justice, equity and good conscience.
Adjudicating Authority has rejected the Application. Ld. Counsel for Appellant, relying on an earlier order dated 30/03/2022 passed in I.A. No 590 of 2021, submitted that Appellant has been given liberty to challenge the Resolution Plan, and it was on the Appellant’s objection that earlier Plan was remanded back. It is submitted that hence he is entitled for the copy of the Resolution Plan.
We have considered submissions of Ld. Counsel for Appellant and perused the records. Earlier order passed by the Adjudicating Authority in I.A. No 590 of 2021 dated 30/03/2023 is as follows:
“These two applications are the objections to the Resolution plan. Now that the plan has been sent back to the CoC for reconsideration, the cause of action for filing these applications do not survive. Accordingly CA No. 2781/2019 & IA-590/2021 are closed with the liberty to challenge as and when the Resolution Plan if any plan is approved”.
Appellant is an operational creditor and under the scheme of the IBC and the CIRP Regulation, he is not entitled for the copy of the Resolution Plan. When the court has granted liberty to the Appellant to challenge the Plan, it is always open for the Appellant to file appropriate Application objecting to the new Resolution Plan raising all permissible pleas in accordance with law.
In view of the aforesaid, we see no reason to interfere in this order.
With the aforesaid liberty, the Appeal is dismissed.