9911796707
TMI Blog2020 (10) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... rate Debtor without filing counter in IBA/25/KOB/2020, raised the question of maintainability of the IBA before this Tribunal through this IA/105/KOB/2020. Submission made by the Applicant herein/Corporate Debtor. 3. The learned counsel for the Applicant submitted that the IBA/25/KOB/2020 has been filed by the Financial Creditor alleging non-payment of a term loan of Rs. 10 crores granted by the Financial Creditor to the Corporate Debtor. The Corporate Debtor in the application specifically disputes the existence of a debt and also the default of debt. There is no debt which is due and payable by the Applicant herein/ Corporate Debtor stating that this is not legally enforceable debt in between the Financial Creditor and the Corporate Deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ehalf. The said Power of Attorney has been produced before this Bench along with the paper book pertaining to the above IBA as well. The IA has been filed by the Corporate Debtor seeking dismissal of the above IBA with the contention that there is no specific authorization given to the Power of Attorney Holder by the Financial Creditor to lodge the above IBA. 6. The learned counsel for the Respondent submitted that the above IBA has been filed by the Financial Creditor in its name. The Power of Attorney Holder only verified, signed and presented the same for and behalf of the Financial Creditor as one of its Principal Officer who is able to depose as to the facts of the case and also as permitted in the aforesaid Power of Attorney. Hence, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s or petitions or written statements or affidavits or appeal memorandums in suits or appeals or applications or other proceedings either civil or criminal filed by or against the Bank, participate and bid the security properties in any public auction conducted by Tribunal/Court/Forum or the authorized officer, receive documents or copies of documents from Courts, Governments Offices or other offices in connection with civil or criminal matters, complaints filed or against the Bank, give evidence or execute decrees or surrender or reassign insurance policies, receive amounts from Courts or Forums or Tribunals or Ombudsman or from any judicial or quasi-judicial body or land acquisition board or State and Central Government Office or Life Insu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such officer and for all purposes it is to be treated as an 'authorization' by the 'Financial Creditor'/'Operational Creditor'/'Corporate Applicant' in favour of its officer, which can be delegated even by designation. In such case, officer delegated with power can claim to be the 'Authorized Representative' for the purpose of filing any application under section 7 or Section 9 or Section 10 of 'I&B Code'." 9. In view of the above, this Tribunal is of the opinion that no specific authorization is required to file the instant IB case. IBA/25/KOB/2020 is an application to take action against the Respondent/Corporate Debtor for non-payment of the debt. Therefore, Smt. Maya C. Vice President/Br. Head of the Financial Creditor/Applicant of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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