Roc, Bangalore & Anr vs South India Cements Ltd
- CitationCompany Appeal (AT) (Insolvency) No. 647-650 of 2018
Ratio decidendi
The rule this decision rests on
An appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 does not lie against an order of the Board for Industrial and Financial Reconstruction passed under the Sick Industrial Companies (Special Provisions) Act, 1985, and such an appeal is therefore not maintainable. Following the tribunal's earlier decision in Pr. Director General of Income Tax v. Spartek Ceramics India Ltd., an appeal under Section 61 of the Code that is directed against a BIFR order is dismissed as not maintainable, and as barred by limitation, without deciding the merits.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: ROC, Bangalore & Anr. ...Appellants Vs Namaste Exports ....Respondent With
Company Appeal (AT) (Insolvency) No. 651-652 of 2018
IN THE MATTER OF: ROC, Bangalore & Anr. ...Appellants Vs South India Cements Ltd. ....Respondent
Present: For Appellants: Mr. Gaurav Rohilla and Mr. Asghwani Bharadwaj, Advocates, Mr. C.V. Sanjeevan, ROC, Bangalore.
ORDER
21.12.2018 These appeals have been preferred by the ROC Bangalore
and Ministry of Corporate Affairs under Section 61 of Insolvency and
Bankruptcy Code, 2016 (henceforth 'I&B Code') against the orders dated
12.02.2008, 09.03.2009, 18.11.2013 and 24.05.2016 passed by Board for
Industrial and Financial Reconstruction under the provisions of Sick
Industrial Companies (Special Provisions) Act, 1985.
On earlier date, we pointed out a similar matter placed for consideration
before this Appellate Tribunal and our decision dated 28th May, 2018 in "Pr.
Director General of Income Tax (Admn. & TPS) Vs. M/s Spartek Ceramics
India Ltd. & Anr". - Company Appeal(AT)(Insolvency) No. 160 of 2017 etc.
Company Appeal(AT)(Insolvency) Nos. 647-650 & 651-652 of 2018 Page 1 of 2 We held that the appeal under Section 61 of I & B Code is not maintainable
against the order of Board for Industrial and Financial Reconstruction.
Following decision in Company Appeal(AT)(Insolvency) No. 160 of 2017
(supra) we also dismiss these two appeals being not maintainable under
Section of 61 of I&B Code being barred by limitation. However, order passed
in these appeals will not come in the way of Appellant- ROC Bangalore or
Ministry of Corporate Affairs to move before any forum for appropriate relief.
Both the appeals stand disposed of with the aforesaid observations.
[Justice S.J. Mukhopadhaya] Chairperson
[Justice Bansi Lal Bhat] Member (Judicial)
Akc/Gc
Company Appeal(AT)(Insolvency) Nos. 647-650 & 651-652 of 2018 Page 2 of 2
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