Vikas Shambhukumar Kasliwal vs Indiabulls Housing Finance Limited
- CitationCompany Appeal (AT) (Insolvency) No. 724 of 2024
Ratio decidendi
The rule this decision rests on
In an appeal against an order appointing a Resolution Professional under Section 95 of the Insolvency and Bankruptcy Code, 2016, no adjudicatory issue may be raised at the stage of appointing the Resolution Professional; such issues, including objections to maintainability, are to be raised and decided when the application comes up for admission or rejection under Section 100 of the Code, following the principle laid down by the Supreme Court in Dilip B. Jiwrajka v. Union of India.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Vikas Shambhukumar Kasliwal ...Appellant Versus Indiabulls Housing Finance Ltd. & Anr. ...Respondents
Present: For Appellant : Mr. Rohit Gupta, Ms. Aakashi Lodha and Ms. Prashasa, Advocates. For Respondents : Ms. Shoma Mitra, Mr. Aman Raj Gandhi, Ms. Apoorva Kaushik, Mr. Parthasarathy Bose, Ms. Panchi Agarwal and Mr. Uday Mahtur, Advocates.
ORDER
(Hybrid Mode)
15.04.2024 : This Appeal has been filed against the Order dated
19.03.2024, by which order the Adjudicating Authority in Section 95
application has appointed the Resolution Professional.
2. Learned Counsel for the Appellant challenging the order submits that
the loan was assigned but assignee has not come on the record. He has
further raised certain other issues. In view of the Judgment of the Hon'ble
Supreme Court in `Dilip B. Jiwrajka' Vs. `Union of India & Ors.' reported
in Writ Petition (Civil) No. 1281 of 2021, it is well settled that no
adjudicatory issue can be raised at the time of appointment of the RP under
Section 95 and all issues can be looked into and raised when the application
come for admission or rejection under Section 100.
3. It shall be opened for the Appellant to raise all his objection including
his objection regarding the maintainability to the RP as well as before the Adjudicating Authority at the time of hearing of the application under Section
100 of the Code.
With these observations, the Appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) himanshu/md
Comp. App. (AT) (Ins.) No. 724 of 2024 2 of 2
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