M/S. Rci Industries & Technologies Ltd vs Union Bank Of India

RCI Industries & Technologies Ltd. ...Appellant

Versus

Union Bank of India ...Respondent

Present: For Appellant: Mr. Mohit Chaudhary and Mr. Kunal Sachdeva, Advocates. For Respondent: Mr. Sanjay Bajaj and Mr. Samarth Bajaj, Advocates.

ORDER

(Virtual Mode)

03.06.2022: Heard learned counsel for the Appellant and Shri Sanjay

Bajaj, learned counsel appearing for the Respondent - Financial Creditor. This

Appeal has been filed against order dated 30.05.2022 by which the

Adjudicating Authority (National Company Law Tribunal), New Delhi, Bench-

III passed following order:-

"ORDER

Learned Counsel for the Financial Creditor is present. It is seen from the previous order dated 29.04.2022 that the Corporate Debtor has already been set ex parte in the matter. Arguments on behalf of the Financial Creditor have been heard at length. We have perused the documents filed along with petition under reference.

Ms. Mahima Ahuja, Advocate appears on behalf of the Corporate Debtor who has already been set ex parte on 29.04.2022 and submits that she has

Cont'd.../ -2-

filed appropriate application seeking setting aside the ex parte order dated 29.04.2022. However, the said application is not before us for further consideration.

After going through the submissions made by the Counsel for the Financial Creditor, order in this matter is reserved."

2. Learned counsel for the Appellant submits that in the Corporate

Insolvency Resolution Proceeding, the Appellant who was the Corporate

Debtor was set ex parte by order dated 29.04.2022. An application for recall

of said order was filed on 29.05.2022 and on 30.05.2022 when the matter was

taken up the said application was not before the court for consideration,

hence, the Court proceeded to reserve the matter under Section 7 Application.

3. We are of the view that when the recall application was filed, the

Adjudicating Authority ought to have considered the said application before

proceeding in the matter and reserving the order in Section 7 Application.

Application filed on 29.05.2022 for recall of order dated 29.04.2022 need to

be first heard and decided. We request the Adjudicating Authority to direct

for listing of the application filed on 29.05.2022 for recall of the ex-parte order

dated 29.04.2022 and after disposing the application to proceed further in the

matter. In view of the above, we dispose of this Appeal with the above

observations.

[Justice Ashok Bhushan] Chairperson

[Naresh Salecha] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No. 646 of 2022