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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 ..... cial creditor. Once, the resolution dated 18.12.2018 itself is under challenge and which constituted the basis of filing petition under Section 7 of the Code namely (IB)-377(PB)/2019 then the issue has to be decided with regard to the competence of filing of the instant petition. It is needless to emphasise that in the corporate sector the whole affair of a company are run on the basis of resoluti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nj Aggarwl, 4. Mrs. Mansi Aggarwal, 5. Mr. Nikhil Aggarwal (Director), 6. Mrs. Parul Aggarwal. The basic argument seeking impleadment raised in the application is that the Board Resolution dated 18.12.2018 filed with the main petition CP No. (IB)-377(PB)/2019 is subject matter of challenge in a company appeal filed under Section 241-242 of the Companies Act, 2013 before the Jaipur Bench of NCL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ency) No. 51 of 2019 (IDBI Bank Ltd. v. Odisha Slurry Pipeline Infrastructure Ltd. decided on 15.01.2019) has in unmistakeable term observed that there is no requirement of hearing a third party including the intervener at the stage of the admission. Reliance has been placed on the following para of the judgment which reads thus:- Further, we may observe that except the applicant (financial c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r counsel is that no third party is entitled to right of hearing before admission of a petition filed under Section 7 of IBC. However, in the facts and circumstances of the present case, the directors who have filed the impleadment application cannot be regarded as a third party as they are part and parcel of the financial creditor. Once, the resolution dated 18.12.2018 itself is under challenge a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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