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TMI Blog2020 (8) TMI 455X X X X Extracts X X X X X X X X Extracts X X X X ..... ants and they have challenged two orders passed by the Adjudicating Authority (NCLT) Kolkata Bench, in CP (IB) No. 616/KB/2017. One order is dated 16th May, 2019 (Annexure A1) by which order the Adjudicating Authority passed orders of Liquidation and the other order is dated 17th May, 2019 passed by the Adjudicating Authority by which the Liquidator was changed who had been earlier appointed vide order dated 16th May, 2019. 2. The grievance of the Appellants is that they had filed three applications before the Adjudicating Authority. One was for impleadment, the second was to consider them as Resolution Applicants and the third claimed that the Appeal Proceedings of 'CIRP' were vitiated because of fraud attracting Section 65 of Insolvency ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany and had moved Application before Adjudicating Authority. Learned Counsel states that the Application remained pending and the 'CIRP' continued and ultimately Liquidation orders have been passed and it is stated that now Liquidator wants to take over the property. 5. When we ask the Learned Counsel for Appellant to show as to how the property is claimed to be belonging to the Appellants, the Learned Counsel merely referred us to Annexure A7 page 316 which is copy of Plaint of Title Suit No. 85 of 2015 filed in the Court of Second Civil Judge Sr. Division at Alipor. It is stated that the Suit is still pending. 6. The Learned Counsel states that the Application which was filed by the Financial Creditor was a collusion between the Financ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tated by these Appellants that the concerned Flat mentioned above is standing in the name of defendant No. 10 (In that Suit) i.e. is the present Corporate Debtor. The said paragraph reads as under: "c. The property situated at Flat No. 3E, 3, Lower Rowdon Street, Police Station- Ballygunge, Kolkata- 700020, within the aforesaid jurisdiction standing in the name of the defendant No. 10 would stand exclusively allotted to the plaintiff no. 1 exclusively. The said property is morefully mentioned and described in Schedule A hereto." 10. The Appellant in that Suit sought decree of declaration that they are in lawful possession in terms of the family arrangement and the same can not be disturbed. The Learned Counsel for the Appellant adds tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vs. Satish Kumar Gupta and Others" (2019) 2 SCC and referred to Para 86 and Para 116 to submit that considering the object of the provisions of IBC, efforts should be made to save the Company and if there is a Resolution Applicant opportunity should be given to the Resolution Applicant for submitting the Resolution Plan and effort should be made to save the Company. The Learned Counsel states that the Appellant had filed Application before the Adjudicating Authority to consider Appellants as Resolution Applicants. It is stated that the Adjudicating Authority did not pass orders even on that application. It appears to us that the Provisions of IBC require that a prospective Resolution Applicant must approach the Resolution Professional by f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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