Sanjay Kumar Gupta vs Ca Tiruvengadam Kannan & Ors

Company Appeal (AT) (Insolvency) No. 1524 of 2023 & I.A. No. 5483, 5393 of 2023

IN THE MATTER OF:

Sanjay Kumar Gupta ...Appellant(s)

Versus

CA. Tiruvengadam Kannan & Ors. ...Respondent(s)

Present: For Appellant : Advocate Sanwal Tibrewal For Respondents : Mr. Shreyas Edupugani, Advocate for R-1 Mr. Ashish Choudhury, Mr.Santosh Kumar Ray, Mr. Akash Tandon, Advocate for Indian Bank.

ORDER

(Hybrid Mode)

19.01.2024: I.A. No. 5393 of 2023. This is an application praying for

condonation of 101 days delay in refiling of the Appeal.

2. The ground taken in the application is that appellant is based out of

Kolkata, Appellant is resident of Raipur, Chatishgarh and order was passed

by the Adjudicating Authority, Kolkata Bench. Delay took place on account of

arranging relevant documents in Kolkata from Raipur and rectifying the

defects. Appellant further submitted that defects were communicated more

than once and time was taken in clearing the defects.

3. Cause shown sufficient. Delay in refiling is condoned.

4. I.A. No. 5483 of 2023. This is an application praying of 14 days delay

in filing of the Appeal.

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5. The ground taken in the affidavit is that the Appellant who is resident

of Raipur, Chatisgarh and has taken time to arrange relevant documents and

preparing the Appeal.

6. Cause shown sufficient. Delay is condoned.

7. Learned Counsel for the Respondent objected the above applications.

8. Heard Learned Counsel for the parties.

9. This appeal has been filed against the Order dated 06.06.2023 passed

by the Adjudicating Authority in I.A. No. 766 of 2023 which was filed by the

Appellant the suspended director of the Corporate Debtor praying for following

reliefs:

"a) Direct the respondent no. 1 for verification of the claim filed by the respondent no. 2 expeditiously;

b) Direct the respondent no. 1 to set forth the correct claims of the CoC after collation of claims after verification of records;

c) Such further order/orders and/or direction/directions as this Hon'ble Tribunal deems fit."

10. The Adjudicating Authority has rejected the Application. While rejecting

the Application, has made following observations in paragraph 4 of the Order:

"Having considered this factual position as narrated above and the averments contained in this IA, we find that the Applicant has hopelessly delayed in filing of this application. In view of the fact that Resolution Plan was approved by CoC on 18.11.2022 whereas this IA has been Company Appeal (AT) (Insolvency) No.1524/2023 3

filed on 14th April, 2023. No reason whatsoever has been mentioned in this IA, for such a huge delay in filing this application. This IA is accordingly, deserves to be dismissed, particularly keeping in view the significance of timelines provided under Insolvency and Bankruptcy Code (IBC), 2016 and the same is therefore, liable to be rejected."

11. From the facts, it is clear that Resolution Plan has been approved by

the Committee of Creditors on 18.11.2022 and the Application I.A. No. 766 of

2023 has been filed by the Appellant on 14th April, 2023 after the plan was

approved. We do not find any error in the order of the Adjudicating Authority

rejecting the application on the ground of delay.

12. We thus are of the view that there is no error in the order and this

Appeal cannot be entertained. Appeal is dismissed. However, it is always open

for the Appellant to take such objections before the Adjudicating Authority as

permissible in law.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical)

[Arun Baroka] Member (Technical)

Basant/nn

Company Appeal (AT) (Insolvency) No.1524/2023