In the matter of Alpha Corp Development Pvt. Ltd. Vs. Atul Kumar Kansal RP of Universal Buildwell Pvt. Ltd. CA (AT) (Ins) No. 1102-2019

The Appellant, claims to be a person who intends to file a ‘resolution plan’ for three projects. He submitted that the ‘Resolution Professional’ had not provided the necessary information and documents and for the said reason it could file the plan.

Learned counsel for the ‘Resolution Professional’ brought to our notice that the ‘Corporate Insolvency Resolution Process’ is not limited to the three projects and the large number of projects (total 7 projects) are there in the ‘Corporate Insolvency Resolution Process’. The Appellant intends to file ‘resolution plan’ only for three projects, leaving aside those with more liabilities, which had been noticed by the Adjudicating Authority. For the said reason, the application is not entertained.

Having heard the learned counsel for the parties we find that the Appellant has not filed ‘resolution plan’ within the time, and proposal be made is also rejected by the ‘Committee of Creditors’ and for part project no such plan can be accepted. As we are not inclined to give any relief, the appeal is dismissed. No costs.

[Justice S.J. Mukhopadhaya]

Chairperson

[ Justice A.I.S. Cheema ]

Member (Judicial)

[ Kanthi Narahari ]

Member (Technical)