9911796707
TMI Blog2022 (9) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... d 29.06.2022 in IA(IBC)/147/KOB/2022 in CP(IBC)/24/KOB/2022 passed by the National Company Law Tribunal, Kochi Bench in dismissing the 'Application'. Earlier, the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench), while passing the 'impugned order' dated 29.06.2022 in IA(IBC)/147/KOB/2022 in CP(IBC)/24/KOB/2022, at Paragraph Nos.4 to 6, had observed the following: - "4. The 1st Respondent Dhanalaxmi Bank Limited filed a reply objecting to the application stating that this application filed as an Appeal under the disguise of an application for recalling the order. This Tribunal has no jurisdiction to recall or review its own order or decision or to hear an appeal challenging its own order, only a rectification of any c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rthermore, the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) has proceeded to advert in the 'Interim Order' dated 16.09.2022 in CP (IBC)/24/(KOB)/2022 that the 'Appellant' / 'Applicant' can very well give 'Reply' to the 'Resolution Professional', appointed by the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench). The primordial grievance of the 'Appellant' / 'Applicant' is that the 'Appellant' / 'Applicant' filed IA(IBC)/147/KOB/2022 in CP(IBC)/24/KOB/2022, seeking to 'Recall' the original order dated 05.05.2022 and to issue a 'fresh order', appointing the 'Resolution Professional' and directing him to submit a 'Fresh Report', after affording an opportunity to the 'Appellant' / 'Applicant'. On b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pondents' by not fulfilling the 'debt' owed to the 'Corporate Debtor', as per the clauses contained in the concerned Terms, in respect of the 'outstanding Financial Debt', which was apparent from the 'documents' placed on 'Record' and that the order dated 05.05.2022 passed by the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) is a 'premature one', because of the fact that an order under Section 95 of the Insolvency & Bankruptcy Code, 2016 is not to conclude that there was a 'Default' in 'Repayment' of 'Debt', as this would cause 'Bias' / 'Prejudice', in regard to the 'Report', to be submitted by the 'Resolution Professional'. Furthermore, the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it or reject the application would be under Section 100. At the stage of appointment of Resolution Professional, such allowing is not contemplated in Section 97 no adjudication as such is involved." The crystalline stand of the Appellant / Applicant is that the Appellant / Applicant had preferred IA/IBC/147/KOB/2022 before the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) and that the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) on 29.06.2022 had dismissed the said 'Interlocutory Application' filed to 'Recall' the 'Order' dated 05.05.2022, on the footing, that the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) has no power to 'Recall' or 'Review' the 'Order' dated 05.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent / Dhanalaxmi Bank Ltd. / Financial Creditor that the main CP(IBC)/24/KOB/2022 is slated for 'Hearing' on 11.10.2022 before the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench). Be that as it may, in view of the fact that the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) has not yet finally arrived at a conclusion, cementing upon the 'Report' of the 'Resolution Professional', and despite the 'earlier observation' made by the 'Adjudicating Authority' (National Company Law Tribunal, Kochi Bench) in CP(IBC)/24/KOB/2022 dated 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
