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TMI Blog2019 (4) TMI 1926X X X X Extracts X X X X X X X X Extracts X X X X ..... Virender Ganda, Sr. Adv., Vipul Ganda, Ayandeb Mitra and Shreya Jain, Advs. ORDER CA-654(PB)/2019 : - This is an application with a prayer for impleadment of the applicants (who are the directors in the company - Financial Creditor) in the pending application filed under 7 of Insolvency and Bankruptcy Code, 2016. The names of the six directors-applicants are as under: - 1. Mr. Devendra Kumar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance of majority of the directors (as noted in the opening para) then filing of the petition would itself be questionable and such a petition would not be maintainable. According to the learned counsel, this is an extra ordinary circumstance for allowing the prayer made in this application. However, Mr. Ganda, learned senior counsel for the no-applicant-petitioner has argued that the Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ganda, learned senior counsel, the aforesaid principle has again been emphasised in para 8 & 9 of the judgment rendered in the case of Axis Bank Ltd. v. Lotus Three Developments Ltd. & Ors. (Company Appeal (AT) (Insolvency) No. 246 of 2018 decided on 31.07.2018). Having heard learned counsel for the parties and perusing the material on record, we are of the view that the ratio of the judgments ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted at the bar in the case of IDBI Bank Ltd. case (supra) and in Axis Bank Limited case (supra) would not be attracted to the facts of the present case. Accordingly, we permit the applicant to intervene in the matter and address arguments at the time of admission without permitting them to join as a party.
The application stands disposed of.
The main case is listed on 20.05.2019. X X X X Extracts X X X X X X X X Extracts X X X X
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