Sanjeev Mahajan vs Allahabad Bank & Anr

IN THE MATTER OF: Sanjeev Mahajan ...Appellant

Versus

India Bank (Erstwhile Allahabad Bank) & Anr. ...Respondents

Present: For Appellant : Mr. Ramji Srinivasan, Sr. Advocate with Mr. Nakul Mohta. Mr. Devarsh Srivastava, Mr. Kumar Anurag Singh, Mr. Zain A. Khan, Mr. Vinayak Bhandari, Ms. Alina Merina Mathew and Ms. Shruti Pandey, Advocates. For Respondents : Mr. Rajesh Kr. Gautam, Mr. Anant Gautam , Ms. Sumit Sharma and Mr. Vidur Ahluwalia, Advocates or R-1 Ms. Sumiti Yadava, Ms. Shanelle Umarwadia and Mr. Samar Pratap, Advocates for R3 & R4. Mr. Karan Dewan for Manuj Nagrath, Mr. Novneet Gupta, Advocates for RP

With

Contempt Case (AT) No. 07 of 2023 In Company Appeal (AT)(Insolvency) No. 03 of 2022

IN THE MATTER OF: Sanjeev Mahajan ...Appellant

Versus

India Bank (Erstwhile Allahabad Bank) & Anr. ...Respondents

Present: For Appellant : Mr. Ramji Srinivasan, Sr. Advocate with Mr. Nakul Mohta. Mr. Devarsh Srivastava, Mr. Kumar Anurag Singh, Mr. Zain A. Khan, Mr. Vinayak Bhandari, Ms. Alina Merina Mathew and Ms. Shruti Pandey, Advocates.

For Respondents : Mr. Rajesh Kr. Gautam, Mr. Anant Gautam , Ms. Sumit Sharma and Mr. Vidur Ahluwalia, Advocates or R-1 Ms. Sumiti Yadava, Ms. Shanelle Umarwadia and Mr. Samar Pratap, Advocates for R3 & R4.

Mr. Karan Dewan for Manuj Nagrath, Mr. Novneet Gupta, Advocates for RP

ORDER

03.02.2023:

I.A. No. 259 of 2023 This Interlocutory Application has been filed by the Appellant in disposed

of Company Appeal (AT)(Insolvency) No. 03 of 2022 which was disposed of by

this Tribunal's Judgment dated 04.07.2022. Subsequently, another order was

passed by this Tribunal on 21.11.2022 in I.A. No. 3410 of 2022 filed by the

Appellant. The Applicant/Appellant has come up with in this Application

claiming that the Applicant/Appellant was not given opportunity to meet the

Chairman-cum-Managing Director, who is the Competent Authority for

considering the proposal of the Applicant/Appellant who is an MSME. By our

order 21.11.2022, we have already made necessary clarification with regard to

earlier judgment dated 04.07.2022.

Learned Counsel for the Bank submits that in accordance with the order

passed by this Tribunal dated 04.07.2022 and 21.11.2022, all steps were taken

by CoC. Learned Counsel for the Applicant submits that after 20.01.2023, the

I.A. No. 259 of 2023 in Company Appeal(AT)(Insolvency) No. 03 of 2022 Contempt Case(AT) No. 07 of 2023 in Company Appel(AT)(Insolvency) No. 03 of 2022 Page 2 of 3 Applicant/Appellant has also made efforts to meet the Chairman-cum-

Managing Director, but he was unsuccessful. Learned Counsel for Bank

submits that CoC has already approved the Resolution Plan during the

pendency of this Application

We are of the view that it is open for the Applicant/Appellant to make

such application, as permissible in law, before the Adjudicating Authority for

consideration of this grievance, if any. Learned Counsel for the

Applicant/Appellant submits that he is making offer higher than the

Successful Resolution Applicant, whose plan has been approved. It is open for

the Applicant to place his plea, as admissible in law, before the Adjudicating

Authority.

We are of the view that no case has been made out to make further order

in I.A. No. 259 of 2023. Any Application filed by the Applicant shall be

considered in accordance with law by the Adjudicating Authority.

Contempt Case (AT) No. 07 of 2023

Learned Counsel for the Applicant/Appellant submits that he does not

want to prosecute the Contempt Application. Contempt Application is,

therefore, closed.

[Justice Ashok Bhushan] Chairperson

[Mr. Barun Mitra] Member (Technical) akc/nn

I.A. No. 259 of 2023 in Company Appeal(AT)(Insolvency) No. 03 of 2022 Contempt Case(AT) No. 07 of 2023 in Company Appel(AT)(Insolvency) No. 03 of 2022 Page 3 of 3