DR.DHANANJAYA Y.CHANDRACHUD, J. - (1.) Index A. The Appeal B. Corporate Resolution Insolvency Process C. Approval of Resolution Plan D. Challenge before Appellate Tribunal E. Submissions F. Analysis F.1 Clearing the ground F.2 Jurisdiction to approve a Resolution Plan F.3 Exercise of jurisdiction G Conclusion A The Appeal This appeal arises under Section 62 of the Insolvency and Bankruptcy Code[1], against a judgment the dated 4 January 2021 of the National Company Law Appellate Tribunal[2]. Reliance Infratel Limited[3] is the corporate debtor. The appellants are operational creditors. By its order dated 3 December 2020, the National Company Law Tribunal, Mumbai[4], approved the resolution plan formulated in the course of the insolvency resolution process[5] of the Corporate Debtor. The NCLAT has upheld the order. [1] IBC [2] NCLAT /Appellate Authority [3] RIL [4] NCLT/Adjudicating Authority [5] CIRP B Corporate Resolution Insolvency Process
(2.) The CIRP of the Corporate Debtor was initiated by an order dated 15 May 2018 of the NCLT. An interim resolution professional[6] was appointed on 18 May 2018. The IRP issued a public announcement on 21 May 2018 inviting claims from the creditors of the Corporate Debtor. The order of the NCLT admitting the corporate debtor to the CIRP was challenged in appeal, and the order of admission was stayed on 30 May 2018. On 30 April 2019, the NCLAT vacated the stay on the CIRP. The appeal was withdrawn.
(3.) The CIRP resumed on 7 May 2019. A fresh public announcement was issued by the IRP on 7 May 2019 for inviting claims from creditors. The Committee of Creditors[7] was constituted on 24 May 2019. On 30 May 2019, the CoC replaced the IRP with Mr. Anish Niranjan Nanavaty as the Resolution Professional[8]. This appointment was confirmed by the NCLT on 21 June 2019. [6] IRP [7] CoC [8] RP ;