Mr. Jayanti Lal Jain (Liquidator Of K. K. ... vs Respondent

IN THE MATTER OF: Mr. Jayanti Lal Jain Liquidator of K.K Welding Ltd. ... Appellant Vs. ...... ...Respondent Present: For Appellant: - Ms. Khushboo Shah Rajani, Advocate For Respondent:-

ORDER

(Virtual Mode)

27.09.2021: This Appeal is against the order dated 05.04.2021 in I.A

1514 of 2020, I.A. No. 1517 of 2020, I.A. No. 1586 of 2020 and I.A No. 637 of

2021 in CP (IB) 1523/MB/2019. Whereby Ld. Adjudicating Authority

adjourned the matter due to paucity of time for consideration on Applications

on 22.06.2021.

2. Ld. Counsel for the Appellant representing Liquidator of K.K Welding

Ltd. submits that RP has filed an Application I.A. No. 1514 of 2020 seeking

necessary direction against the Union Bank of India who is one of the

Financial Creditor and Member of CoC for releasing liquid asset which

comprises of fixed deposit and mutual funds' investments of the Corporate

Debtor. The Application is pending for more than a year, however, the Ld.

Adjudicating Authority has not decided the Application. Therefore, it is

prayed that the Ld. Adjudicating Authority may be directed to decide the

Application expeditiously.

3. We have considered the submissions, in the impugned order no adverse

order passed against the Appellant, therefore, the Appellant is not aggrieved person. Hence, the Appeal is not maintainable under Section 61 of the IBC.

Thus, the Appeal is dismissed as not maintainable. However, we request the

Ld. Adjudicating Authority to make all endeavor to decide the Application I.A

1514 of 2020 in CP (IB) 1523/MB/2019 which is pending since 15.06.2020

within three weeks from today.

4. The Registry is directed to send the copy of this order for compliance to

the concerned Adjudicating Authority forthwith.

[Justice Jarat Kumar Jain] Member (Judicial)

[Dr. Alok Srivastava] Member (Technical)

sc/gc/rr

Company Appeal (AT) (Ins) No. 764 of 2021