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TMI Blog2022 (11) TMI 1073X X X X Extracts X X X X X X X X Extracts X X X X ..... he finding of this Tribunal is on the basis of material available before this Tribunal. Further, in para 47 this Tribunal clearly held that the Applicant suppressed material facts and misguided the members of CoC to achieve the desired decision in favour of DSKL. Further, this Tribunal observed that the adverse remarks and observations made in para 54 of the order of the Adjudicating Authority dated 01.03.2021 are not baseless and further observed that for appreciating the materials on record and to decide the matter, such observations are necessary. It is reiterated that the order passed by this Tribunal dated 28.06.2021 is on the basis of material available before this Tribunal and it cannot be said that the said finding / observation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iew Applicant submitted the brief facts leading to filing of the present Review Application as under: Review Application No. 01 02 of 2021 in CA (AT) (Ins) No. 233 333 of 2021 3 of 9 3. Learned Senior Counsel submitted that originally the CP No.2156 of 2019 was admitted on 10.10.2019 and CIRP proceedings were initiated by the Adjudicating Authority. After the last date of Expression of Interest (EoI), the erstwhile RP received an email dated 12.03.2020 from Dwarkadhish Sakhar Kharkhana Limited (DSKL) expressing interest to submit a resolution plan for the Corporate Debtor, which was rejected by the erstwhile RP and CoC. The erstwhile RP was replaced with the Review Applicant on 27.05.2020. While so, on 05.06.2020 DSKL wrote to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021 before this Tribunal. Both the Appeals were disposed of by this Tribunal vide a common (final) order dated 28.06.2021. The Applicant is aggrieved by the adverse observations and remarks made against the applicant in the said common impugned order to the extent that they are contrary to the record. 7. The Learned Senior Counsel submitted that following are the adverse observations made in the final order: a. At the 9th COC meeting, the Applicant had suppressed the fact that he was served with the application by DSKL and that had the COC been made aware of the same, they would not have revisited their earlier decision (Para 38, 41(vii) of IO). b. the Applicant had suppressed that he himself had permitted DSKL to submit its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arties. The present Application is filed under Section 420(2) of the Companies Act, 2013 seeking review of the order passed by this Tribunal dated 28.06.2021. This Tribunal passed a common order of two Appeals i.e. Company Appeal (AT) (Insolvency) No. 233 of 2021 which was filed by Dwarkadhish Sakhar Kharkhana Limited against Pankaj Joshi RP and Company Appeal (AT) (Ins) No. 333 of 2021 was filed by Pankaj Joshi RP against Gangamai Industries and Construction Ltd. Both the Appeals are directed against the common order dated 01.03.2021 passed by the Adjudicating Authority (NCLT, Special Bench, Mumbai) whereby the Adjudicating Authority allowed the Application of Gangamai Industries and Construction Ltd. in I.A. No. 1029 of 2020 in CP No. 215 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal may rectify any mistake apparent from the record. However, there is no power of review under the Act. 16. The Learned Senior Counsel contended that the adverse remarks passed at para 38, 39 and 47 are error apparent from the record as the record clearly establishes that the applicant had not suppressed that he was served with the application and on the said basis sought expungement of remarks. This Tribunal passed the following order in its judgment dated 28.06.2021 at para 38, 39 and 47 which are extracted hereunder: 38. At the time of 9th CoC meeting, Pankaj Joshi has supressed the fact that he was served with the Application of DSKL and that they are going to file Application before the Adjudicating Authority against the deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alled for and on the other hand, for appreciating the materials on record and to decide the matter, such observations are necessary. 17. From the aforesaid paras the finding of this Tribunal is on the basis of material available before this Tribunal. Further, in para 47 this Tribunal clearly held that the Applicant suppressed material facts and misguided the members of CoC to achieve the desired decision in favour of DSKL. Further, this Tribunal observed that the adverse remarks and observations made in para 54 of the order of the Adjudicating Authority dated 01.03.2021 are not baseless and further observed that for appreciating the materials on record and to decide the matter, such observations are necessary. 18. It is reiterated t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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