In the matter of Ayush Agrawal Vs. C.A Kannan Tiruvengadam and Anr CA(AT)(Insolvency) 606-2018

The Respondent- ‘Successful Resolution Applicant’ has filed a summary chart of disbursement of funds to Creditors, as shown below:

2. Learned counsel for the Appellant submits that in the ‘Resolution Plan’, it was stated that the ‘Operational Creditors’ will be granted 70.80%.

3. However, it is accepted on behalf of the Respondents that it may be typographical error as all the ‘Operational Creditors’ except ‘workmen and employees’ have been allowed 60.75%.

4. In the circumstances, we direct the Respondent to provide the Appellant with 60.75% of their claim as admitted by the ‘Resolution Professional’ as per the ‘Resolution Plan’, if not yet made. If T.D.S has been deducted, they will forward a copy of the certificate to the Appellant.

The appeal stands disposed of with aforesaid observations.

(Justice S.J. Mukhopadhaya)

Chairperson

(Justice A.I.S. Cheema)

Member(Judicial)

(Kanthi Narahari)

Member(Technical)