9911796707
TMI Blog2022 (9) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 05.05.2022 that Debt and Default were proved, yet in the considered opinion of this Tribunal, the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) had provided an opportunity to the Appellant/ Applicant to file a Reply Statement on or before 17.06.2022 and posted the matter on 21.06.2022 For Hearing (vide Order dated 16.06.2022 in CP(IBC)/24/KOB/2022). Also keeping in mind of another fact that the Appellant / Applicant was provided with an opportunity to approach the Resolution Professional in IA/IBC/147/KOB/2022 filed by the Applicant/Appellant, this Tribunal holds that IA/IBC/147/KOB/2022 filed by the Applicant / Appellant was rightly dismissed by the Adjudicating Authority (National Company Law Tribunal, Kochi Be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w its own order or decision or to hear an appeal challenging its own order, only a rectification of any clerical or arithmetical mistakes can be done by the Tribunal. The applicant has not challenged the order dated 5th May, 2022 in CP(IBC)/24(KOB)/2022, thereby the 2nd respondent RP was appointed and directed him to file a report. The present application is nothing but delaying tactics and it is against the objective of the Code. 5. We have heard the learned counsel Mr. Reghunath Sarangapany, who appeared on behalf of the learned counsel for the applicant and the learned counsel for the Respondents 1 2, and had gone through the application and the replies. The relief sought is to recall the order dated 5th May 2022 in CP(IBC)/24(KOB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and directing him to submit a Fresh Report , after affording an opportunity to the Appellant / Applicant . On behalf of the Appellant / Applicant it is pointed out that the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) in CP(IBC)/23/KOB/2022 and CP(IBC)/24/KOB/2022 and CP(IBC)/25/KOB/2022 dated 05.05.2022 at Paragraph No.4 had observed the following: - In view of the above provision and that the applicant has complied with Section 95 (4) quoted above and also that the demand notice dated 09.11.2021 was sent to the respondents, however, the respondents failed to make the payment, we have come to the conclusion that there is a default on the part of the Personal Guarantors / Respondents by not fulfil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Resolution Professional . Furthermore, the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) is not to Allow the Petition under Section 95 of the Insolvency Bankruptcy Code, 2016, of course, prior to the receipt of the Report from the Resolution Professional . To fortify the submission that the Order dated 05.05.2022 in CP(IBC)/24/KOB/2022 passed by the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) is an incorrect one in the eye of Law , the Appellant / Applicant falls back upon the Judgment of this Appellate Tribunal in the matter of Ravi Aji Kolkarni versus State Bank of India, Mumbai (vide Comp App (AT) No.316/2021 dated 12.08.2021) whereby and whereunder at Parag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) has no power to Recall or Review the Order dated 05.05.2022 passed in IA/IBC/147/KOB/2022 and to hear the matter Afresh . Conversely, Mr. Vinod P.V., the Learned Counsel appearing for the 1st Respondent / Dhanalaxmi Bank Ltd. / Financial Creditor brings it to the Notice of this Tribunal that on 16.06.2022 in CP(IBC)/24/KOB/2022, the Resolution Professional had filed his Report before the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) and the same was on Record . It is represented on behalf of the 1st Respondent / Dhanalaxmi Bank Ltd. / Financial Creditor that, in reality, the Resolution Professional in its Report had r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efault were proved, yet in the considered opinion of this Tribunal , the Adjudicating Authority (National Company Law Tribunal, Kochi Bench) had provided an opportunity to the Appellant / Applicant to file a Reply Statement on or before 17.06.2022 and posted the matter on 21.06.2022 For Hearing (vide Order dated 16.06.2022 in CP(IBC)/24/KOB/2022). Viewed in the aforesaid backdrop and also keeping in mind of another fact that the Appellant / Applicant was provided with an opportunity to approach the Resolution Professional in IA/IBC/147/KOB/2022 filed by the Applicant / Appellant , this Tribunal holds that IA/IBC/147/KOB/2022 filed by the Applicant / Appellant was rightly dismissed by the Adjudicating Authority ..... X X X X Extracts X X X X X X X X Extracts X X X X
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