Sanjay Bhandari vs Durgesh Kumar Sharma

IN THE MATTER OF: Sanjay Bhandari Director Rangraj Realtors Pvt. Ltd. ...Appellant

Versus Durgesh Kumar Sharma Proprietor Salasar Builders ...Respondent

Present: For Appellant: Mr. Sanjay Bhandari, Appellant in person. For Respondent:

ORDER

(Virtual Mode)

24.05.2022: Heard Appellant appearing in person. By this Appeal the

order dated 25.01.2022 has been challenged to the limited extent in so far as

observations have been made with regard to the Appellant herein who was a

Director of the Corporate Debtor against whom Section 9 Application was filed

by Respondent No.1. Section 9 application has been rejected by the impugned

order.

2. Appellant appearing in person submits that the observation made in order

that there was active collusion between the Operational Creditor and the

Corporate Debtor to defraud the other creditors is not correct. He submits that

there is no other creditor of the Corporate Debtor, hence, the observations were

made without there being any material.

Cont'd.../ 2

3. In the facts of the present case, specifically when Application under

Section 9 has been rejected, we see no reason to entertain this Appeal. We,

however, observe that the observations made in Para 5 of the impugned order

may not be treated to any adverse observation against the Appellant so as to

initiate any further action. With these observations, the Appeal is disposed of.

[Justice Ashok Bhushan] Chairperson

[Shreesha Merla] Member (Technical)

[Naresh Salecha] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No. 564 of 2022