Rkv Enterprises Private Limited vs Investment Manager Of L&T Infra ...
- CitationCompany Appeal (AT) (Insolvency) No.1011 of 2023
Ratio decidendi
The rule this decision rests on
The Tribunal, in deciding whether a reserved order was properly pronounced, applied the principle that where the record shows the order was not reserved in open court but uploaded on the following day, no infirmity arises from its not being pronounced in open court, absent material to the contrary. It is settled that an order which is reserved must be pronounced in open court; the Tribunal recognised this principle but held it inapplicable where the factual premise of reservation is not established by the record. A question of locus standi raised by an amendment of the cause title is not to be decided at the interlocutory stage by way of a recall application; it is a matter the Adjudicating Authority must examine and decide at the final hearing of the petition, and the appellate court expresses no opinion on it.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
RKV Enterprises Pvt. Ltd. ...Appellant
Versus
Investment Manager of L & T Infra Investment Partners ...Respondent
Present: For Appellant: Mr. Mudit Sharma, Mr. Anant Raj Kannojiya, Mr. Parvez Alam Khan, Advocates.
For Respondent: Mr. Vardhman Kaushik, Mr. Dhruv Joshi and Mr. Abhinav Singh, Advocates.
ORDER
09.08.2023: Heard learned counsel for the Appellant as well as learned
counsel appearing for the Respondent. This appeal has been filed by the
Appellant - Corporate Debtor challenging the order dated 16.06.2023 passed
by the Adjudicating Authority in I.A. No. 220/JPR/2022. Appellant has filed
the I.A. praying for recall of order dated 23.01.2023 passed by the
Adjudicating Authority. The order was passed on 23.01.2023, which is
quoted in Para 3 of the order, where registry was directed to add the amended
cause title in the main Company Petition and showcase the name of the
Applicant henceforth in the cause list as Investment Manager of L&T Infra
Investment Partners.
Cont'd.../ -2-
2. Learned counsel for the Appellant submits that the Adjudicating
Authority on 23.01.2023 has reserved the order and order was never
pronounced and he became aware of the order only on 13.03.2023 and then
application was filed on 23.03.2023. It is submitted that the Adjudicating
Authority has pronounced on locus standi of the applicant while directing
amendment of the cause title, which issue is yet to be considered and decided,
at the time of final hearing of the Company Petition.
3. We have considered the submissions of learned counsel for the
Appellant and perused the record.
4. The Adjudicating Authority in the impugned order has categorically
noted that the order was not reserved on 23.01.2023 and it was uploaded on
the very next day. When the order was uploaded on the next day, as observed
in the impugned order and there is no material to accept the submission of
the learned counsel for the Appellant that order was reserved on 23.01.2023,
we are of the view that no infirmity has been committed by not pronouncing
the order in open court.
5. It is well settled that if order is reserved, it has to be pronounced in the
open court. However, we can take no different view than as has been taken
by the Adjudicating Authority in the impugned order.
6. Insofar as amendment of the cause title, it is always open for the
Appellant to contend at the time of final hearing of the petition that locus of
Company Appeal (AT) (Insolvency) No.1011 of 2023 -3-
the applicant is not there. This question has to be examined and decided by
the Adjudicating Authority at the time of final hearing. We express no opinion
on the merits of any of the contentions. With these observations, we dismiss
the Appeal.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Archana/nn
Company Appeal (AT) (Insolvency) No.1011 of 2023
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