Pramod Kumar Sharma vs Manesh Agarwal And Ors

Pramod Kumar Sharma ...Appellant

Versus

Manesh Agarwal & Ors. ...Respondents

Present: For Appellant: Mr. Susshil Daga and Babita Jain, Advocates, PCS Md Nazim Khan, CS Akshita Koolwal. For Respondent: Mr. Vijay Joshi, Advocate for R-4. Mr. Abhinav S Aggarwal, Advocate for IBBI

ORDER

(Virtual Mode)

04.04.2022: Heard Learned Counsel for the Appellant as well as Learned

Counsel for Respondent Nos. 3 and 4.

2. This Appeal has been filed against the Order dated 09th November, 2021

passed in I.A. No. 201 of 2020. I.A. No. 201 of 2020 was filed by the Appellant

seeking recovery of the amount which was withdrawn by the Suspended

Directors in violation of Section 14 of the Insolvency and Bankruptcy Code,

2016. The Application came for consideration before the Adjudicating

Authority and it was observed by the Adjudicating Authority that in the

Application Insolvency and Bankruptcy Board of India (IBBI in short) is made

party as Respondent No. 3, when there is no need by the Resolution

Professional to implead IBBI. The Adjudicating Authority has dropped 'IBBI'

from the array of the parties and directed to pay Rs. 25,000/- for unnecessarily

making the 'IBBI' as party to the proceeding. 2

3. Learned Counsel for the IBBI has appeared and made submissions that

he does not propose to file any Reply to the Appeal.

4. We are of the view that the Adjudicating Authority having already

dropped the IBBI from the array of the parties, there was no necessity to

further issue direction imposing cost of Rs. 25,000/- on the Resolution

Professional. We thus are of the view that the Impugned Order dated 09th

November, 2021 in so far as it imposes cost of Rs. 25,000/- on the Appellant

deserves to be deleted and is hereby deleted.

The Appeal is allowed to the above extent.

[Justice Ashok Bhushan] Chairperson

[Dr. Alok Srivastava] Member (Technical)

[Ms. Shreesha Merla] Member (Technical)

Basant/nn

Company Appeal (AT) Ins. No. 08/2022