Akhil Ahuja Irp vs Shiv Krishna Gupta

IN THE MATTER OF: Akhil Ahuja ...Appellant

Versus

Shrikant Krishan Gupta ...Respondent

Present: For Appellant : Mr. Sumit Sinha and Mr. Rohan Goel, Advocates. For Respondents :

ORDER

(Hybrid Mode)

25.07.2024: This Appeal has been filed against order passed by the

Adjudicating Authority dated 17.01.2024 deciding IA No.4570 of 2022.

Certain observations have been made by the Adjudicating Authority against

the Appellant in the order, aggrieved by which observation this appeal has

been filed.

2. By order dated 05.03.2024, we have issued notice by passing following

order:

"O R D E R (Hybrid Mode)

05.03.2024: Learned counsel for the Appellant submits that the Adjudicating Authority by the impugned order has directed that copy of the order be sent to the IBBI to take an appropriate view regarding the affairs of the CIRP of the Corporate Debtor. It is

Cont'd.../ 2

submitted that no finding has been arrived by the Adjudicating Authority that the Resolution Professional has not conducted the CIRP in accordance with the procedure. It is submitted that without there being any finding, direction to IBBI to submit action taken report was uncalled for, at this stage. Submission needs scrutiny.

Issue notice. Requisites along with process fee be filed within three days. Let reply be filed by the Respondents within three weeks. Rejoinder be filed within two weeks thereafter.

List this Appeal on 15.04.2024.

In the meantime, the IBBI may not proceed to take any action against the Appellant in pursuance of the order dated 17.01.2024. We, however, make it clear that it is open for the Adjudicating Authority to proceed to decide the applications pending in the matter."

3. The notices have been delivered on the Respondent but no one has

appeared, nor any reply has been filed. The submission which has been

noticed on the date when notice was issued that without there being any

finding the matter has been referred to IBBI to submit action taken report.

We have perused the impugned order and we do not find any sufficient finding

for making observation against the Resolution Professional and forwarding

the mater to IBBI.

Company Appeal (AT) (Insolvency) No.468 of 2024 3

4. We, thus, are of the view that observation made against the Appellant

in the impugned order and direction to refer the matter to IBBI for submitting

action taken report need to be set aside. Appeal is disposed off accordingly.

[Justice Ashok Bhushan] Chairperson

[Arun Baroka] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No.468 of 2024