9911796707
TMI Blog2023 (12) TMI 1014X X X X Extracts X X X X X X X X Extracts X X X X ..... stice Rakesh Kumar Jain : This order shall dispose of I.A. No. 1178 of 2023 which has bee filed invoking Rule 11 of the NCLAT Rules, 2016 (in short 'Rules') for recalling of the judgment dated 16.10.2023 passed in CA (AT) (Ins) No. 184 of 2023 by which the appeal filed by the Appellant was dismissed. 2. In brief, State Bank of India (Financial Creditor) filed an application under Section 7 of Insolvency and Bankruptcy Code, 2016 (in short 'Code') r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (in short 'Rules, 2016') against Vibha Agro Tech Limited (Corporate Debtor) for the resolution of an amount of Rs. 327,03,72,501.81/-. This application bearing CP (IB) No. 645/7/HDB/2018 was dismissed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d." 5. By virtue of the aforesaid order, the appeal was remanded back to the Appellate Tribunal and permission was granted to seek amendment of the application under Section 7 of the Code,to incorporate the facts of acknowledgment as contained in the balance sheets, allegedly of the Appellant herein. It is stated that the Financial Creditor filed an application for amendment by a memo before the Adjudicating Authority at Hyderabad in terms of the aforesaid order of the Hon'ble Supreme Court and also filed an application bearing I.A No. 87 of 2022 in CA (AT) (Ins) No. 636 of 2020 before this Tribunal which was restored in terms of the order of the Hon'ble Supreme Court. I.A. No. 87 of 2022 was allowed on 11.01.2022 with the following order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the Office of the Registry not only through e-filing but also through the hard copy and the copy of the same shall be exchanged between them well in advance before the next date of Hearing. The Registry is directed to list the matter on 07th March, 2022." 6. Thereafter, the appeal was also allowed on 23.08.2022, the order dated 27.02.2020 passed by the Adjudicating Authority was set aside and the matter was remanded back to reconsider the amended application filed under Section 7 of the Code at the instance of the Appellant. 7. After remand, the Adjudicating Authority passed the order of admission of the application on 05.06.2023 which was further challenged by the Appellant in appeal i.e. CA (AT) (Ins) No. 184 of 2023. This appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s filed for an amount of Rs. 327,03,72,501.81/- by the Bank which was initially dismissed by the Adjudicating Authority on the ground of limitation and the order was upheld by this Tribunal but the Hon'ble Supreme Court set aside the order of this Tribunal and remanded the appeal back to this Tribunal and restored the same, permitting the financial creditors (Bank) to file an application to amend Section 7 application to add pleadings regarding acknowledgment of the debt in the balance sheet of the Corporate Debtor. It is submitted that the said application was allowed on 11.01.2022. At that time, the applicant herein, who was the Respondent in that application did not appear and even did not challenge the order dated 11.01.2022 by way of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amendment in Section 7 application. In so far as, the allegation of the Applicant that some application was also filed before the Adjudicating Authority for amendment, firstly, it was only a memo and secondly, no proceedings were pending at that time before the Adjudicating Authority, therefore, the application has rightly been filed before this Tribunal where the proceedings were pending and there is no error in the statement made by Counsel which has been recorded in the order dated 11.01.2022 which is sought to be labelled as fraudulent. As a matter of fact, the application under Section 7 was admitted on 05.06.2023 which was further challenged by the present applicant by way of an appeal i.e. CA (AT) (Ins) No. 184 of 2023 and dismissed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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