In the matter of JSW Steel Ltd. Vs. Ashok Kumar Gulla CA(AT)(Insolvency) No. 142-2019

Apart from other issues, the question arises for consideration in this appeal is whether the Adjudicating Authority can amend the approved plan, if there is no infirmity in the ‘Resolution Plan’ approved by the ‘Committee of Creditors’. In other sense, whether the Adjudicating Authority can also club together a subsidy Company of the ‘Corporate Debtor’ for the purpose of approval of ‘Resolution Plan’ u/s 31 of the Insolvency & Bankruptcy Code(‘I&B Code’), 2016.

Let notice be issued on the Respondents. Learned Counsel Mr. Saurabh Jain accepts notice on behalf of R-2 (COC). Respondent No. 2 is allowed to file reply-affidavit along with Vakalatnama. Rejoinder if, any, may be filed by the Appellant within a week thereof.

Let notice be issued to rest of the Respondents by speed post. Requisite along with process fee, if not filed, be filed by 1st May, 2019. If the appellant provides the e-mail address of the respondent, let notice be also issued through e-mail.

Post this appeal for ‘admission’ on 28th May, 2019.

Meanwhile, the ‘Resolution Plan’ as approved by the Committee of Creditors may be implemented which shall be subject to the decision of this appeal.

[Justice S.J. Mukhopadhaya]

Chairperson

[Justice A.I.S. Cheema]

Member (Judicial)

[Kanthi Narahari]

Member (Technical)