Sh. Arun Kumar @ Arun Singh vs Indian Bank & Anr
- CitationCompany Appeal (AT)(Insolvency) No. 929 of 2023
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority's order appointing a Resolution Professional under Section 95 and directing a report under Section 99 is not interfered with; the Resolution Professional is to serve a copy of the report on the personal guarantor, who may file objections before the Resolution Professional and may raise all grounds available at the admission or rejection stage under Section 100 of the Insolvency and Bankruptcy Code, 2016.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Company Appeal (AT)(Insolvency) No. 929 of 2023 IN THE MATTER OF: Arun Kumar @ Arun Singh ...Appellants Versus Indian Bank & Anr. ...Respondents
With Company Appeal (AT)(Insolvency) No. 953 of 2023 IN THE MATTER OF: Brijesh Kumari ...Appellant Versus Indian Bank & Anr. ...Respondents
With Company Appeal (AT)(Insolvency) No. 954 of 2023 IN THE MATTER OF: Rohit Singh ...Appellant Versus Indian Bank & Anr. ...Respondents Present: For Appellant : Mr. Om Pal, Mr. Gautam Singal and Mr. Rajat Chaudhary, Advocates For Respondents : Mr. Vikas Kumar, Ms. Reema Khorana, Advocates for R-1 Mr. Rishabh Jain, Advocate for R-2
ORDER
24.07.2023:
These appeals have been filed by the Personal Guarantor challenging
separate orders passed by the Adjudicating Authority dated 17.05.2023 by
which Adjudicating Authority in Section 95 Application filed by Indian Bank
..Contd..p/2 has appointed a Resolution Professional (in short RP) and directed the RP to
submit a report under Section 99.
Learned Counsel for the Appellant submits that even the order does not
contain direction for serving a copy of the report to the Appellant and there are
several shortcomings in the application which required to be considered.
In view of the above, RP shall serve a copy of the Report to the Appellant.
the Appellant shall have a liberty to file objection to the report before the RP
and it shall be open for the Appellant to raise all grounds available at the time
of admission/rejection under Section 100 of IBC. We see no reason to interfere
with the order dated 17.05.2023.
The appeals are hereby disposed of with the above observations.
[Justice Ashok Bhushan] Chairperson
[Mr. Barun Mitra] Member (Technical) akc/nn
Company Appeal (AT)(Insolvency) No. 929, 953 & 954 of 2023 Page 2 of 2
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