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TMI Blog2018 (4) TMI 532X X X X Extracts X X X X X X X X Extracts X X X X ..... porate Debtor were introduced through common friend in the year 2013. At that time, Corporate Debtor needed financial assistance for a short period, therefore, Corporate Debtor approached and requested the Financial Creditor to help them out. Thereafter, on different dates as per the table mentioned at Part IV of the application (Form I), sum of ₹ 51,750,000/- was disbursed by the Financial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER This appeal has been preferred by the Corporate Debtor Veebro Technoplast Private Limited against order dated 22nd September, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Principal bench, New Delhi whereby and whereunder the application preferred by the respondent Gudearth Homes Infracon Private Limited Ors. (Financial Creditors) under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 51,750,000/- was disbursed by the Financial Creditors which include sum of ₹ 25,00,000 given by one Mr. Vinay Lakra. Therefore, the arguments advanced by the appellant that no amount be given to the Corporate Debtor cannot be accepted. Apart from the aforesaid fact we are of the view that the appeal preferred by Corporate Debtor is not maintainable in view of the decision of the Hon ble S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cording to us, once an insolvency professional is appointed to manage the Company, the erstwhile Directors who are no longer in management, obviously cannot maintain an appeal on behalf of the Company. In the present case, the Company is the sole appellant. This being the case, the present appeal is obviously not maintainable. However, we are not inclined to dismiss the appeal on this score alone. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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