Sunil Shukla vs Dewan Housing Finance Corporation Ltd

IN THE MATTER OF: Sunil Shukla ....Appellant

Vs.

Administrator, ....Respondents Dewan Housing Finance Corporation Ltd. & Ors.

Present: For Appellant: Mr. Sriram Parakkat and Mr. M.S. Vishnu Sankar, Advocate For Respondents: Mr. Liz Mathew, Ms. Sonali Jain, Mr. Rohan Rajadhyaksha for R-1/Administrator. Mr. Raunak Dhillon, Ms. Madhavi Khanna, Mr. Shubhankar Jain, Mr. Animesh Bisht, Ms. Saloni Kapadia, Ms. Yashaanki Kora for R-2, COC. Mr. Ashish Bhan, Ms. Chitra Rentala, Mr. Aayush Mitruka, Mr. Ketan Gaur, Ms. Lisa Mishra, Mr. Vishal Hablani and Ms. Samriddhi Shukla for R-3.

ORDER

(Virtual Mode)

11.11.2021: Heard Mr. Sriram Parakkat Learned Counsel for the Appellant.

2. According to the Learned Counsel for the Appellant the I.A. No. 1242/2021 in C.P.(IB)-4258 (MB)/2019 was filed by the Petitioner/Appellant on 03.06.2021 and the 'Resolution Plan' was approved by the 'Adjudicating Authority' on 07.06.2021. Further, it is stand of the Appellant that the Applicant/Appellant in I.A. No. 1242/2021 in C.P. (IB)-4258 (MB)/2019 and also sought the investigation of the whole 'Corporate Insolvency Resolution Process' etc. but the 'Adjudicating Authority' had not appreciated this aspect in right earnest and dismissed the application by passing the Impugned Order. -2-

3. At this juncture, it is useful for this Tribunal pertinently to make a mention about the Impugned Order passed on 21.06.2021 by the 'Adjudicating Authority' (National Company Law Tribunal, Mumbai Bench, Court-II in I.A. No. 1242/2021 in C.P.(IB)-4258 (MB)/2019 filed by the Applicant/Appellant) which runs as under:-

"This application has been filed praying for the stay of approval of Resolution Plan. The Resolution Plan has already been approved on 07.06.2021 and hence this application becomes infructuous.

Application dismissed"

4. Be that as it may this 'Tribunal' on going through the Impugned Order

dated 21.06.2021 in I.A. No. 1242/2021 in C.P. (IB)-4258 (MB)/2019 passed

by the 'Adjudicating Authority' is of the considered view that the 'Adjudicating

Authority' had rightly observed that in view of Resolution Plan being approved

on 07.06.2021, the said interlocutory application had become an infructuous

one. This Tribunal is in complete agreement with the view arrive at the

'Adjudicating Authority' which is free from legal flaw viewed in that perspective

the instant Company Appeal is devoid of merits.

5. In fine, the Company Appeal (AT) (Ins.) No. 797 of 2021 is dismissed. No Costs.

[Justice M. Venugopal] Member (Judicial)

[V. P. Singh] Member (Technical)

[Dr. Alok Srivastava] Member (Technical)

sa/gc Company Appeal (AT) (Ins.) No. 797 of 2021