You are on page 1of 1

Dear ------- Ji,

 I am in agreement with ------ ji 's view as a FC ,who is member


of COC should not be allow to participate in bidding by
submitting the resolution plan  as a resolution applicant since, at
that time , the party would become interested party , as it was
interested party with conflict of interest by virtue of proviso to
section 30(5) FC may be allowed to bid and vote.
It is also notable that in last COC meeting dated 23/05/2020 it
was specifically asked by us to IRP to share names and
communication on behalf of class of FC. But, fact remains that
said resolution plan submitted by ---------- has rejected itself in
that meeting hence, it would be a futile excercise to demand for
names and other related issues since RP himself admitted that
plan was prepared by EX-Management in collusion with some
home buyers. 
Since, Extended period of "CIRP" process may expire if
lockdown would not happen and we may also keep in our mind
that concept of IBC is of going concern and liquidation is last
resort though it would be more beneficial to us but the mandate
of COC i.e. 66% of total members present in the meeting is rule.
In totality, there is no harm in shooting mail with suggestions
forwarded by-------- JI. It will be also helpful in any adversity if
it happens at later stage and we are to constrain to move AA.

You might also like