Abhishek Anand vs Pdm Legal Buyers Association
- CitationCompany Appeal (AT) (Insolvency) No. 392 of 2023
Ratio decidendi
The rule this decision rests on
The Appellate Tribunal declined to interfere at this stage with an order appointing a chairperson to conduct a Committee of Creditors meeting following the suspension of the Resolution Professional, holding that the Committee of Creditors is the body entitled to decide whether to continue with the existing Resolution Professional or appoint a new one, and that any grievance against a decision of the Committee of Creditors is to be pursued by way of legal remedy in accordance with law.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Abhishek Anand ...Appellant
Versus
PDM Legal Buyers Association ...Respondent
Present: For Appellant: Mr. Rahul Shukla, Advocate for RP, Mr. Abhishek Anand, RP in person For Respondent: Mr. Gurcharan Singh, Advocate
ORDER
13.04.2023: This Appeal has been filed against the Order dated 27th
February, 2023 on I.A. 1212/2023 which was filed by PDM Legal Buyers
Association-Respondent No. 1 herein.
2. In the present case, Resolution Professional has been suspended by the
Order of Insolvency and Bankruptcy Board of India dated 30th January, 2023.
The Adjudicating Authority has earlier passed an Order on 01st February, 2023
where following order was passed:
"Mr. Ashish Aggarwal, Ld. Counsel for the Home Buyers seeks time ot seek instructions from the CoC as to how to proceed further in the matter in the light of the IBBI's order bearing no. IBBI/DC/147/2023 dated 30.01.2023 suspending the registration of RP.
In view of the above, the matter is adjourned to 06.03.2023 to enable the CoC to take a call in terms of the order passed by the IBBI."
-2- 3. Subsequent to the Order dated 1st February, 2023, order has been
passed on 27.02.2023 by the Adjudicating Authority appointing Mr. Karan
Malhotra, Advocate to be the Chairperson of the meeting to take a decision in
terms of the order dated 01.02.2023.
4. It has been submitted by Learned Counsel for the Respondent that CoC
meeting has been held on 05th April, 2023 whose voting is still in process. The
Order dated 27th February, 2023 has been implemented in the CoC Meeting.
5. We see no reason to interfere with the Order impugned at this stage. If
Appellant is aggrieved with any decision of the CoC, he is free to take legal
remedy in accordance with law. It goes without saying that it is for the CoC
to take decision either to continue with the present RP or take new one. The
Appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Mr. Barun Mitra] Member (Technical)
Basant/nn
Company Appeal (AT) (Insolvency) No. 392/2023
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