Mannoj Kumar Jain vs Idbi Bank Limited And Anr & Ors
- CitationCompany Appeal (AT) (Insolvency) No. 1511
Ratio decidendi
The rule this decision rests on
The Insolvency Resolution Professional may represent the Corporate Debtor in its pending arbitration proceedings, with the assistance of the Corporate Debtor's officers and employees, notwithstanding the interim directions that no further steps be taken in the matter.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Mannoj Kumar Jain ...Appellant
Versus
IDBI Bank & Anr. ...Respondents
Present: For Appellant : Mr. Kumar Anurag Singh, Mr. Zain A. Khan, Mr. Mohd. Abran Khan, Advocates. For Respondents : Mr. Gaurav Mitra, Mr. Ishan Roy Chowdhury, Ms. Muskan Khatanu, Mr. Shreedhar Gaggar, Advocates for R-1.
ORDER
(Hybrid Mode)
19.02.2026: I.A. No. 1313 & 1314 of 2026: This is an application filed
by the Appellant praying for clarification of the order dated 26.09.2025 and
06.10.2025. Learned counsel for the Applicant submits that the Corporate
Debtor had large number of arbitration proceedings pending before different
forums where the Corporate Debtor is either claimant or petitioner and in view
of the commencement of the CIRP, those proceedings are going
unrepresented.
2. We passed interim orders on 26.09.2025 and 06.10.2025, which are to
the following effect:
"26.09.2025: .....Till the next date no further steps
shall be taken."
Cont'd.../ "06.10.2025: .......Learned counsel for the IRP submits
that public announcement has already been made. Let
the IRP receive and collate the claims but no further
steps shall be taken."
3. In view of the interim order passed on 26.09.2025 and 06.10.2025, we
clarify that it shall be open for the IRP to represent the Corporate Debtor in
the pending arbitration proceedings with the assistance of officers and
employees of the Corporate Debtor. Application is disposed of accordingly.
[Justice Ashok Bhushan] Chairperson
[Indevar Pandey] Member (Technical) Archana/md
I.A. No. 1313 & 1314 of 2026 in CA (AT) (Ins.) No. 1511-1512 of 2025 2 of 2
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