An IA has been filed by an Operational Creditor under section 60(5) of IBC, 2016 against RP to share a copy of Resolution Plan approved by the Committee of Creditors and a copy of IA filed under Section 31 of IBC, 2016 for approval of Resolution Plan.
The Adjudicating Authority held that the precedent as laid down by the Hon’ble NCLAT in Jet Airways (India) Ltd. (2022) ibclaw.in 66 NCLAT that the resolution plan was not a confidential document, only after approval of the plan by the NCLT which is not the case in the present matter, as approval of the resolution plan by this bench is still pending. Moreover, the Applicant has been made aware of the treatment proposed for the operational creditors of the Corporate Debtor in the resolution plan. In such situation, this Tribunal cannot direct the RP to give a copy of the approved resolution plan submitted by the Respondent before this Tribunal and/or to share a copy of the Interlocutory Application/1562/2022 with the Applicant. In view of the same, we are of the considered opinion that a complete set of Resolution Plan cannot be allowed to be shared with the Applicant.