Shri. Jaykumar Bramhadev Mane vs The Solapur Dist. Central Co. Op. Bank ...
- CitationComp. App. (AT) (Ins) No. 942 of 2024
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority's observations made in its order dated 5.4.2024, on the appellant's objection regarding the guarantee deed, cannot be treated as an expression of opinion on those issues, and are not binding at the stage of Section 100 of the Insolvency and Bankruptcy Code, 2016. At the stage of Section 100 proceedings, the Adjudicating Authority is entitled to consider all objections raised by the person against whom the proceedings are brought, including objections going to the existence or enforceability of the guarantee, and to decide them in accordance with law; the appellant is therefore not foreclosed from raising such objections at that stage.
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 Comp. App. (AT) (Ins) No. 942 of 2024 IN THE MATTER OF: Jaykumar Bramhadev Mane ...Appellants Versus Solapur District Central Cooperative ...Respondents Bank Limited & Anr.
Present: For Appellant : Mr. Sandeep Bajaj, Ms. Amruta Thakur and Mr. Swetab Kumar, Advocates. For Respondents : CA Raghunath Saranga Pani, Advocate for R2.
WITH Comp. App. (AT) (Ins) No. 945 of 2024 IN THE MATTER OF: Satish B Mane ...Appellants Versus Solapur District Central Cooperative ...Respondents Bank Limited & Anr.
Present: For Appellant : Mr. Sandeep Bajaj, Ms. Amruta Thakur and Mr. Swetab Kumar, Advocates. For Respondents : Ms. Seetalaxmi Swamy, Advocate for R1.
ORDER
(Hybrid Mode)
13.05.2024: Heard counsel for the Appellant. This appeal is filed against
the order dated 5.4.2024. Counsel for the appellant submits that Appellant has
not even signed the Guarantee Deed and Adjudicating Authority in paragraph-4
had made observations with regard to the guarantee deed Hon'ble Supreme
Cont'd Court in Dilip B. Jiwrajka has already held that "all issues regarding facts and
law regarding adjudication has to be examined at the stage of Section 100 of IBC."
We are of the view that it is open for the appellant to raise all objections
including objections regarding guarantee we make it clear that any observation
made in the order dated 5.4.2024 cannot be treated to any expression of the
opinion by the Adjudicating Authority and Adjudicating Authority at stage of
Section 100 can consider all objections raised by the Appellant and decide the
same in accordance with the law. Appeal is disposed of accordingly.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) harleen/NN
Comp. App. (AT) (Ins) No. 942 of 2024 Comp. App. (AT) (Ins) No. 945 of 2024 2 of 2
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