9911796707
TMI Blog2019 (3) TMI 350X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER This appeal has been preferred by M/s Radius Infratel Pvt. Ltd. (Corporate Debtor) against order dated 23rd July, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, whereby and whereunder application under Section 7 preferred by Union Bank of India (Financial Creditor) has been admitted, order of moratorium has been passed and Interim Resolution Professional has been appointed. 2. In Innoventive Industries Ltd. Vs. ICICI Bank and Ors. (2018)1 SCC 407 , in para 11, the Hon ble Supreme Court held as follows: 11. Having heard the learned counsel for both the parties, we find substance in the plea taken by Shri Salve that the present appeal at the behest o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which is not maintainable in view of the decision of the Hon ble Supreme Court in Innoventive Industries Ltd. Vs. ICICI Bank and Ors., [(2018) 1 SCC 407] (Civil Appeals Nos. 8337-38 of 2017) (Para 11). Learned counsel for the appellant prays for and allowed a week s time to file application by one of the shareholder of the Corporate Debtor for substituting him as appellant and to transpose Radius Infratel Private Limited through Resolution Professional as 2nd Respondent. In the meantime, the appellant may file affidavit to show that there was no debt due or there was no default as on the date of filing of the petition under Section 7. It may give specific date(s) and evidence in support of payment of quarterly dues both wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal for orders on 13th November, 2018. 5. Today when the matter was taken up one Mr. Ankit, representative of the Corporate Debtor submits that the lawyer is appearing before the Debts Recovery Tribunal. However, we are not adjourning the case as even on appearance of the counsel we cannot entertain the appeal preferred by Corporate Debtor being not maintainable. 6. For the said reason, we dismiss the appeal being not maintainable in view of decision of Hon ble Supreme Court in Innoventive Industries Ltd. Vs. ICICI Bank and Ors. (Supra). However, this order will not come in the way of Shareholder/ Director of the Corporate Debtor to move an appeal in accordance with law, if not barred by limitation. - - TaxTMI - TMITax - ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
