Idbi Trusteeship Services Limited vs Manoj Gaur
- CitationCompany Appeal (AT) (Insolvency) No. 692 of 2024
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority is justified in imposing costs as a condition for granting an adjournment where the matter has already been adjourned on earlier occasions, but the quantum of such costs must be proportionate and not excessive, and the Appellate Tribunal may reduce it accordingly.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IDBI Trusteeship Services Ltd. ....Appellant Vs. Manoj Gaur ...Respondent For Appellant Mr. Shantanu Sagar, Mr. Gunjesh Ranjan, Mr. Prabhat Ranjan, Advocates. For Respondent
ORDER
(Hybrid Mode)
09.04.2024: Heard Learned Counsel for the Appellant.
2. This Appeal has been filed against the order dated 01.04.2024 by which
order Adjudicating Authority while adjourning the matter for physical hearing
on 09.04.2024 imposed cost of Rs.2,50,000/-. Adjudicating Authority in
paragraph 3 has noticed that on three earlier occasions, the matter was
adjourned.
3. Learned Counsel for the Appellant submitted that the adjournment was
sought for as he has gone to his hometown to perform last rites of maternal
grandfather.
4. We have considered the submissions of the Counsel for the Appellant
and perused the record.
2
5. The Adjudicating Authority granted the adjournment on request made
by the Appellant but imposed heavy cost of Rs.2,50,000/-. We suppose that
the order has been passed in view of the reasons given in paragraph 3 of the
impugned order that is due to earlier three adjournments. We, thus, are of the
view that the Adjudicating Authority was fully justifying in imposing cost while
granting adjournment. However, we are of the view that the imposition of
Rs.2,50,000/- is too excessive, we reduce the cost as Rs.25,000/- only.
6. The Appeal is disposed of accordingly.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical)
Anjali/nn
Company Appeal (AT) (Insolvency) No. 692 of 2024
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