Shyam Pradhan & Anr vs Anand Chandra Swain

Shyam Pradhan & Anr. ...Appellants

Vs.

Anand Chandra Swain ...Respondent

Present: For Appellants: - Mr. Nakul Dewan, Senior Advocate with Mr. Prantar Basu Choudhury, Ms. Neelu Mohan and Ms. Ashna Gupta, Advocates.

O R D E R

21.01.2020─ The Appellant is the agent of 'Ship Owners Protection

Limited, London (SOPL)' (an Insurance Company), who has insured the

'Corporate Debtor'- 'M/s. Kei-Rsos Maritime Limited', which is in the field

of single point mooring operations under the contract with oil refineries

like, Mangalore Refinery and Petro Chemicals and Vendanta Limited,

Clairn, which are dealing with the essential commodities such as petrol,

diesel, kerosene, etc.

Merely, because the 'Corporate Insolvency Resolution Process' has

been initiated against 'M/s. Kei-Rsos Maritime Limited'- ('Corporate

Debtor') by an Agent or Insurer- 'Ship Owners Protection Limited, London'

(who has not moved any appeal) and as during the 'Corporate Insolvency

Resolution Process', the 'Corporate Debtor' is to continue as a going

Contd/-.............

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concern, the Adjudicating Authority (National Company Law Tribunal),

Amaravati Bench, rightly passed the impugned order dated 27th

November, 2019 directed the Insurer to continue with the Insurance. If

any amount is payable during the 'Corporate Insolvency Resolution

Process' towards the instalment to the Insurer, the 'Interim Resolution

Professional' will take care of the same.

In absence of any merit, the appeal is dismissed. No costs.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice Bansi Lal Bhat) Member(Judicial)

(Justice Anant Bijay Singh) Member(Judicial)

Ar/RR

Company Appeal (AT) (Insolvency) No. 15 of 2020