Committee Of Creditors Through Shri ... vs Sanjay Gupta And Anr

Committee of Creditors ....Appellant Through Shri Ashish Kumar Srivastava

Vs

Sanjay Gupta and Anr. ....Respondents

Present: For Appellant: Mr. Aditya Nayyar, Advocate. For Respondents: Mr. Nipun Gautam, Advocate for R-1. Mr. Abhishek Anand and Mr. Kunal Godhwani, Advocates for R-2 (RP)

ORDER

(Through Virtual Mode)

15.02.2021: I.A. No. 269-270 of 2021 is disposed of with direction to file certified

copy of the impugned order within two weeks of same being made available, if the

appeal survives for consideration.

2. I.A. No. 267-268 of 2021 stands disposed for with direction to produce

legible copies of the Annexures to appeal paper book within two weeks, in case,

the appeal survives for consideration.

3. Heard Mr. Aditya Nayyar, Advocate representing the Appellant in both the

appeals.

Cont'd......./ -2-

4. In terms of the impugned order dated 5th January, 2021, Appellant's right

to file reply in CP (IB)-266(ND)2019 pending disposal before the Adjudicating

Authority (National Company Law Tribunal), New Delhi Bench, Court II has been

closed. This course appears to have been adopted by the Adjudicating Authority

keeping in view the peremptory direction passed on 2nd November, 2020 wherein

it was specifically mentioned that no further adjournment will be granted to file

the reply. The matter was adjourned to 27th November, 2020. The Appellant

herein failed to file reply even on that day. Thus, the right to file reply came to be

forfeited. Impugned order dated 12th January, 2021 appears to have been passed

in I.A. No. 59/2021 moved by the present Appellant to review the earlier order but

the same was not allowed.

5. Mr. Nipun Gautam, Advocate appears on behalf of Respondent No. 1. Mr.

Abhishek Anand, Advocate appears on behalf of Respondent No. 2.

6. After hearing learned counsel for the parties, we find that no legally

sustainable ground has been projected to demonstrate that the impugned orders

suffer from any legal infirmity. The Corporate Insolvency Resolution Process is a

time bound process and the proceedings not being adversarial in nature would

not warrant granting of adjournments liberally, the proceedings not being civil

litigation.

Company Appeal (AT) (Insolvency) No. 115-116 of 2021 -3-

7. The Appellant has, in first place, not filed the reply within the specified time

and on adjournment being granted with peremptory direction still failed to put in

its response, leaving the Adjudicating Authority with no option but to close its

right to file reply. The subsequent order, being in nature of review of the earlier

order not based on any error apparent on the face of record, cannot be found fault

with.

8. We accordingly find no merit in the appeals. Same are dismissed with

direction to the Adjudicating Authority to allow the Appellant to place on record

its written submissions as even after closing of its right to file reply, an opportunity

of being heard has to be afforded to it. The appeals are accordingly disposed off.

[Justice Bansi Lal Bhat] Acting Chairperson

[Dr. Ashok Kumar Mishra] Member (Technical)

am/gc

Company Appeal (AT) (Insolvency) No. 115-116 of 2021