State Bank Of India vs Chanchal Dua
- CitationCompany Appeal (AT) (Ins) No. 732 of 2021
Ratio decidendi
The rule this decision rests on
The appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 is not maintainable where the impugned order is not one against which the appellant is aggrieved in the sense the section contemplates, namely an order that has operated against the appellant; an appellant's grievance about delay in the Adjudicating Authority deciding a pending application does not by itself lie within Section 61, and the Tribunal therefore dismisses the appeal while requesting the Adjudicating Authority to decide the pending application expeditiously.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: State Bank of India ... Appellant Vs. Chanchal Dua RP for KK Milk Fresh India Ltd. ...Respondent Present: For Appellant:- Mr. Milan Singh Negi, Advocate
ORDER
(Virtual Mode)
20.09.2021: Ld. Counsel for the Appellant submits that the Appellant is
a Financial Creditor of KK Milk Fresh India Ltd. exercising 39.75% voting right
in CoC. The Appellant is aggrieved of the long pendency of the Application I.A.
No. 210 of 2020 filed under Section 33 (1) of the IBC for liquidation of the
Corporate Debtor before the Adjudicating Authority, Allahabad. The
Application was filed on 29.08.2020, however, after lapse of one year the
Application has not been decided and the asset of the Corporate Debtor are
deteriorating, therefore, this Appeal has been preferred and seeking direction
to the Ld. Adjudicating Authority to decide the Application expeditiously.
2. Ld. Counsel for the Appellant has impugned the order dated 24.08.2021.
In this order, it is mentioned that "As jointly prayed, put up in the week
commencing 15th September, 2021 for arguments before the Regular
Court/through Video Conferencing."
3. There is nothing against the Appellant, therefore, the Appeal is not
maintainable under Section 61 of the IBC. Thus, the Appeal is dismissed as 2
not maintainable. However, we request the Ld. Adjudicating Authority to decide
the Application I.A No. 210 of 2020 at the earliest as per law, which is pending
for more than a year.
The Registry is directed to send the copy of this order to the concerned
Adjudicating Authority forthwith.
[Justice Jarat Kumar Jain] Member (Judicial)
[Dr. Ashok Kumar Mishra] Member (Technical)
[Dr. Alok Srivastava] Member (Technical)
SC/GC/RR.
Company Appeal (AT) (Ins) No. 732 of 2021
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