9911796707
TMI Blog2023 (6) TMI 374X X X X Extracts X X X X X X X X Extracts X X X X ..... ieved by the Impugned Order dated 13/01/2023 passed in IA/693/IB/2020 in CP/1006/IB/2018 by National Company Law Tribunal, Chennai Bench, Chennai, K. Narayanaswamy, the Suspended Director of M/s GK Steel and Allied Industries Limited (the 'Corporate Debtor'), has preferred this 'Appeal', under Section 61 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as 'the Code'). 2. The 'Adjudicating Authority' while dismissing IA No. 693/2020 observed as follows: i. "Pass an order therey directing the first Respondent Resolution Professional to exclude the amount of interest claimed by the Respondent 2 & 3 towards the outstanding dues of the Corporate Debtor for the period of 01.06.1999 to 3012.2016 as the Corporate Debtor was a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... year 2012, Assignment Deed was registered in the State of Tamil Nadu. What would be the consequence of registration of the Assigment Deed of 2006 in Maharashtra has to be examined. In view of the facts and circumstances of this case, on this ground alone, O.A of R3 should not be and cannot be dismissed. Rather, merits of the case has to be examined. However, PO of DRT has directed examine the legality of Assignment Deed of 2006 on merits according to law in final order to be passed in O.A after hearing all the parties. In view of the above, Appeal stands dismissed. It Is made clear that this Tribunal has expressed no opinion on the legality of Assignment Deed at this stage. This point is kept open for PO of DRT. Appeal is dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase to remand the matter to the 'Adjudicating Authority' and the 'Adjudicating Authority' shall decide the 'Application' within a period of 'four weeks' from the date of this Order. It is made clear that this 'Tribunal' has not commented on the merits of the matter and the 'Adjudicating Authority' shall proceed in accordance with Law, uninfluenced by any observations in this Order. 5. For the aforenoted reasons, this 'Appeal' is allowed and the Order of the Adjudicating Authority in IA No. 693/2020 is set aside and the matter is remanded back to the Adjudicating Authority for fresh adjudication on merits. All parties shall appear before the 'Adjudicating Authority' on 15/06/2023. No Costs. The Connected pending Interlocutory Application, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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