Amit Kumar Suspended Director Vanya ... vs Pradyuman Overseas Limited And Anr
- CitationComp. App. (AT) (Ins) No. 1424 of 2025
Ratio decidendi
The rule this decision rests on
The Appellate Tribunal disposed of the appeal without deciding any question of law on the merits. Where the corporate debtor's default is settled, the appeal against admission under section 9 may be disposed of as no purpose would be served by keeping it pending, and further steps in the CIRP are to await the Adjudicating Authority's decision on the operational creditor's application under section 12A, with the IRP continuing to act with the assistance of the corporate debtor's officials and employees.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Amit Kumar, Suspended Director Vanya Edible Oils ...Appellant & Refineries Pvt. Ltd.
Versus
Pradyuman Overseas Ltd. & Anr. ...Respondent Present: For Appellant : Mr. Sumant Batra, Mr. Sunil Kumar, Mr. Sarthak Bhandari, Ms. Riya Kaur Arora, Advocates For Respondent : Mr. Shivam Goel, Advocate for R-1 Mr. Vishal Agarwal, Advocae for FC Mr. Shailendra Singh, IRP in-person
ORDER
(Hybrid Mode) 15.09.2025: Heard counsel for the appellant. Learned counsel
appearing for respondent No.1 as well as counsel for the IRP.
2. This appeal has been filed against the order passed by Adjudicating
Authority on 02.09.2025 passed by National Company Law Tribunal, New
Delhi, Court 4, admitting section 9 application which were filed claiming
default of Rs. l,15,01,373/-.
3. Counsel for appellant submits that appellant's company has turnover
of about four hundred crore. Appellant has already settled with respondent
No. 1. Learned counsel for the Operational Creditor appears and submits
that settlement has been made with appellant.
4. In view of the aforesaid, we are of the view that no purpose shall be
served in keeping the appeal pending.
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5. Counsel for Operational Creditors prays that he be permitted to file
application under 12 A for withdrawal of the CIRP, which may be done
within one week, through IRP.
6. Learned counsel for one of the creditors, Durable Sales Pvt. Ltd.
appears and submits that he has claim. It is open for any other claimant to
put such objection as permissible by law.
7. We further direct in the facts of the present case the further steps in
the CIRP shall be taken after decision by the Adjudicating Authority under
12 A application.
8. IRP shall continue with assistance of officials and employees of the
Corporate Debtor.
The appeal id disposed of accordingly.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
tu/nn
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