9911796707
TMI Blog2020 (12) TMI 1133X X X X Extracts X X X X X X X X Extracts X X X X ..... ll Appellant is objecting. When such developments have taken place, on technical issues, we do not intend to interfere with the Impugned Order. There is no reason to interfere with the Impugned Order. It would further prolong the delayed CIRP proceedings which would not be in the interest of the Corporate Debtor - appeal dismissed - decided against appellant. - Company Appeal (AT) (Ins) No.1120 of 2020 - - - Dated:- 23-12-2020 - [Justice A.I.S. Cheema] Member (Judicial) And [V.P. Singh] Member (Technical) For the Appellant : Mr. Adarsh Ramunjan and Mr. Lzafeer Ahmed, Advocates For the Respondents : Ms. Pooja Mahajan, Mr. Avinash Amarnath, Ms. Mahima Singh and Ms. Avni Shrivastav, Advocates ORDER Heard Counsel fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dator shall be released in due course after obtaining details from the market. 2. The Member (Technical) held that no fresh valuation was required and dismissed MA 1406 of 2019. 3. The learned Counsel for Appellant submits that against this Order, Appeal was filed and the Order of this Tribunal in Company Appeal (AT) (Ins) No.1078 of 2019 (Annexure A-6 Page 123) and this Tribunal did not enter into the merits and directed the President, National Company Law Tribunal, Mumbai Bench to pass Orders for placing the matter before third Member. It is stated that thereafter, the matter came up before third Hon ble Member (Judicial) Smt. Suchitra Kanuparthi and Orders (Annexure A-7 Page 125) were passed on 28th January, 2020 and the H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s dated 11.09.2019, the matter has been referred to the third member, who had more or less agreed with the contentions raised by the Corporation Bank and disposed off the application. But while saying so the Hon ble Member had also expressed a view that a fresh valuer with a limited scope of valuation of the intangible assets considering international expert valuer for a Pharmaceutical Company be appointed by the Resolution Professional and a report be submitted to the Committee of Creditors. With such and further observations, Adjudicating Authority set aside appointment of M/s G.A. Advisory LLP as Valuer who had been appointed by the RP after Orders of the third Member. The Regular Bench passed further Orders as under:- We will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e COC and COC has given further directions to the Resolution Professional to place matter before the Adjudicating Authority. 9. The Counsel for RP submits that the RP has moved Adjudicating Authority for approval of the Resolution Plan approved by the COC. 10. The Impugned Order in the finding reads as under:- FINDINGS We have heard all the parties concerned and taken all the documents submitted by them into consideration. It is observed that the applicant who is the Resolution Professional as well as the CoC wants to continue with the same valuer i.e. GAA Advisory who is well aware of the facts of the case and has done valuation of the Corporate Debtor earlier. On the other hand, the Corporation Bank does not have faith on ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
