Audico Forge Kamgar Sangathana Vs CA Ramchandra Dallaram Choudhary (NCLAT Delhi)
NCLAT Delhi held that no error has been committed by the Adjudicating Authority in approving the Resolution Plan. Since the gratuity and provident fund of the workers having been admitted in full and paid in full in the Resolution Plan.
Facts- On an application filed by Financial Creditor, Corporate Insolvency Resolution Process gainst the Corporate Debtor – M/s Adico Forge Pvt. Ltd. commenced vide order dated 23.06.2023.
The Appellant – Union filed their claim with the Interim Resolution Professional. Total claim of the workers of Rs.8,19,47,918/- was admitted, which was communicated by the RP to the Appellant by email dated 06.12.2023. A Resolution Plan was submitted by the Respondent – Trinity India Forgetech Pvt. Ltd., which Plan came to be approved by the CoC in the 9th Meeting with 92.87% vote shares.
The Adjudicating Authority by the impugned order has allowed the Application and approved the Resolution Plan. Being aggrieved, the present appeal is filed.
Conclusion- The entire admitted claim in question for provident fund and gratuity having been paid in the Resolution Plan, we do not find any ground to interfere with the order of the Adjudicating Authority of approving the Resolution Plan.
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