I.A./2104/2021 & I.A./2858/2021 In CP(IB)/559/(MB)/2018 proposal would be submitted. Subsequently, a revised unsigned 12A proposal was submitted on 02.11.2020 by one Mr. Rohit Jadhav on behalf of Mr. Pradipkumar N. Dhoot for all the 15 Videocon Group companies. However, the COC members conveyed that 12A proposal of 13 Consolidated Videocon group companies is under consideration and that depending upon the outcome of it, the COC will decide about 12A proposal for the Corporate Debtor. Subsequently, on 27.11.2020, Mr. Pradipkumar N. Dhoot submitted a proposal under Section 12A of the Code for restructuring of the Corporate Debtor. Pursuant to various discussions and deliberations in this regard during the course of various subsequent COC meetings, the aforesaid proposal was put up as a voting agenda pursuant to the 30th COC meeting, and the aforesaid proposal stood rejected unanimously by the COC members i.e., with 100% voting against the proposal. Moreover, the C0C members unanimously approved the liquidation of the Corporate Debtor as a going concern as well as the appointment of the RP as the liquidator of the Corporate Debtor. The RP has further submitted that the restructuring proposal in question was unanimously rejected by the COC of the Corporate Debtor, which is a matter of their commercial wisdom but even then, the Expromoter has filed the frivolous application, which is nothing but a mala fide attempt to delay the commencement of liquidation process of the Corporate Debtor.
