Ishrat Ali vs Cosmos Co-Op Bank Ltd & Anr

IN THE MATTER OF: Ishrat Ali ...Appellant

Versus

The Cosmos Cooperative Bank Ltd. & Anr. ...Respondents

Present: For Appellant: Mr. Dhruv Surana and Mr. Rajeev Ahuja, Advocates. For Respondents:

ORDER

15.12.2022: This Appeal has been filed against the order passed by the

Adjudicating Authority on 02.11.2022 in I.A. No. 2046 of 2022. I.A. No. 2046

of 2022 was filed by the Resolution Professional praying for liquidation of the

Corporate Debtor, which application came for hearing on 02.11.2022. The

Adjudicating Authority on the said application directed the matter to be listed

on 14.11.2022 with liberty to the Corporate Debtor either to get stay or

transfer order from the Principal Bench NCLT failing which the liquidation

application would be disposed of on merits.

2. Learned counsel for the Appellant submits that the Appellant's several

application are pending before the Adjudicating Authority and without

deciding those application the Adjudicating Authority has proceeded to decide

the liquidation application.

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3. We have noticed from the fact of the case that earlier also the Suspended

Director of the Corporate Debtor - the Appellant had challenged initiation of

CIRP and have filed various application which were rejected by the

Adjudicating Authority. Appeal to this Tribunal was also filed which was

dismissed and against which, it is submitted by learned counsel for the

Appellant, a Civil Appeal is pending before the Hon'ble Supreme Court.

4. Be that as it may. The liquidation application has already been filed and

the Adjudicating Authority has to decide the said application. We do not find

any error in the order of the Adjudicating Authority directing for listing of the

matter on 14.11.2022. No grounds have been made to entertain the Appeal.

Appeal is dismissed.

[Justice Ashok Bhushan] Chairperson

[Kanthi Narahari] Member (Technical)

[Barun Mitra] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No. 1509 of 2022