Amit Auto Credit Company Private ... vs Dr. Cs Adv. Mamati Binani And Anr
- CitationCompany Appeal (AT) (Insolvency) No. 1207 of 2022
Ratio decidendi
The rule this decision rests on
The tribunal does not decide any general rule of law; the order records a party's concession and a disposal on that basis, with no reasoned holding. The only reasoning present is that the appellant's EOI, submitted outside the Form-G deadline, may be examined without this being an extension of the Form-G timeline, and that the relief is confined to the appellant who approached the Adjudicating Authority. That is a case-specific direction rather than a principle of law. NO_RATIO: the order disposes of the appeal on the appellant's consent to submit a late EOI within two days, and states no rule of law; its direction that this is not an extension of the Form-G timeline and applies only to the appellant is confined to these facts and not a reasoned legal principle.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Amit Auto Credit Company Private Limited. ...Appellant
Versus
Dr. CS Adv. Mamati Binani & Anr. ...Respondents
Present: For Appellant: Mr. Ashish Choudhury and Mr. Anand Kamal, Advocates. For Respondents: Mr. Sidhartha Sharma, Mr. Arujun Asthana and Mr. Saikat Sarkar, Advocates for RP.
ORDER
30.09.2022: Heard learned counsel for the Appellant and learned counsel for the Resolution Professional. This Appeal has been filed against order dated 22.09.2022 by which order I.A. No. 997/2022 filed by the Appellant has been rejected by the Adjudicating Authority. Resolution Professional has issued Form-G - 'Notice inviting EoI' on 03.08.2022. According to Form-G, last date of receipt of EOI was 19.08.2022 and last date for submission of Resolution Plan is 07.10.2022. The Appellant could not submit the EOI within the time prescribed and he send a request to the Resolution Professional on 31.08.2022, which was not accepted and then I.A. No. 997/2022 has been filed and the Adjudicating Authority rejected the application filed by the Appellant. Aggrieved by the said order this appeal has been filed.
2. Learned counsel for the Appellant submits that Appellant ought to have been permitted to submit the EOI even thought there was a short delay. He submits that he is not seeking extension of time for submission of Resolution Plan last date of which is 07.10.2022. Learned counsel for the Appellant submits that he shall submit EOI within two days and in event EOI is found
Cont'd.../ -2-
compliant the necessary information may be sent to them for preparation of Resolution Plan. The Appellant may submit EOI within two days.
3. In event the EOI is submitted in two days, that may be examined and subsequent proceedings may be taken in accordance with law. We make it clear that this order be not treated as extension of time as prescribed in Form- G as it is only for the Appellant who has approached the Adjudicating Authority. The Appeal stands disposed of.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Archana/nn
Company Appeal (AT) (Insolvency) No. 1207 of 2022
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