Jadish Prasad Chokahani vs Idbi Bank Limited
- CitationCompany Appeal (AT) (Insolvency) No. 735 of 2024
Ratio decidendi
The rule this decision rests on
The question of whether the application under Section 95 was maintainable is one the Appellate Tribunal declines to decide at this stage, because the relevant stage of adjudication is the hearing before the Adjudicating Authority under Section 100 when the application comes up for admission or rejection, as laid down by the Supreme Court in Dilip B Jiwarika v. Union Bank of India, which the Adjudicating Authority itself relied upon; objections to the maintainability of the application and to the appointment of the Resolution Professional are therefore not to be entertained in an appeal against an order that merely appoints the Resolution Professional, but must be raised before the Adjudicating Authority, including in the Appellant's reply to the Resolution Professional's report.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Jagdish Prasad Chokhani ...Appellant Versus IDBI Bank Ltd. ...Respondent
Present: For Appellant : Mr. Hashmat Nabi and Mr. Arham Raza, Advocates. For Respondent : Mr. Sanjay Bajaj, Mr. Shivam Takkar, Mr. Rajat Prakash and Mr. Sarthak Sehgal, Advocates.
ORDER
(Hybrid Mode)
01.05.2024 : This Appeal has been filed against the order dated
29.02.2024 passed by the Learned Adjudicating Authority (National Company
Law Tribunal, New Delhi, Bench - VI) in which Section 95 application
Resolution Professional has been appointed.
2. Learned Counsel for the Appellant challenging the order contends that
the application filed by the IDBI Bank itself was not maintainable and as on
date, he has not received any Notice form the Adjudicating Authority.
3. We have considered the submissions of the Appellant and perused the
record.
4. When in the impugned order, only RP has been appointed under Section
95, the Adjudicating Authority has itself quoted the Judgment of the Hon'ble
Supreme Court in the matter of `Dilip B Jiwarika' Vs. `Union Bank of India
& Ors.' in Writ Petition (Civil) No. 1281 of 2021, wherein it has been clearly
laid down that stage of adjudication is the hearing before the Adjudicating Authority under Section 100 when the application come for
admission/rejection.
5. We thus are of the view that the issues sought to be raised cannot be
adjudicated at this stage.
6. It is open for the Appellant to raise all its objections in the Reply to the
report of the Resolution Professional and advance his submissions before the
Adjudicating Authority.
7. We thus are of the view that no ground has been made out to entertain
this Appeal at this stage.
With the liberty aforesaid, the Appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) himanshu/nn
Comp. App. (AT) (Ins.) No. 735 of 2024 2 of 2
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