Consolidation of CIRP of Corporate Debtors can be decided by CoC: NCLT Hyderabad

Gajjala Yoganand Vs Birendra Kumar Agarwal (NCLT Hyderabad) NCLT Hyderabad held that decision to consolidate, or not, rests with the Committee of Creditors (CoC). However, here since the consolidation of CIRP of both Corporate Debtors at last stage is denied since the same is only an attempt to disrupt the successful resolution process. Facts- This application has been filed by the suspended director of M/s. Manjeera Retail Holdings Private Limited (MRHPL), which, along with its holding company, Manjeera Constructions Limited (MCL), is undergoing Corporate Insolvency Resolution Process (CIRP)....