9911796707
TMI Blog2023 (12) TMI 1014X X X X Extracts X X X X X X X X Extracts X X X X ..... plication - HELD THAT:- The fact remains that while allowing the appeal, the Hon ble Supreme Court has remanded the appeal and restored the same to this Tribunal and permitted the present Respondent (FC) to make amendment in the application filed under Section 7 of the Code. It is no where mentioned by the Hon ble Supreme Court that the application had to be filed before the Adjudicating Authority. Since, the matter was pending before the Adjudicating Authority at that time, after restoration of the appeal by the Hon ble Supreme Court, the application has rightly been filed before this Tribunal for seeking amendment in Section 7 application. In so far as, the allegation of the Applicant that some application was also filed before the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 by the Adjudicating Authority vide order dated 27.02.2020 on the ground of limitation. 3. The aforesaid order dated 27.02.2020 was challenged by the Financial Creditor by way of an appeal bearing CA (AT) (I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,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:- Heard the Learned Counsel Mr. V.M. Kannan appearing for the Appellant/Bank. According to the Learned Counsel for the Appellant/SBI, the instant I.A. No. 87 of 2022 in CA (AT) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 was dismissed on 16.10.2023. The present application has been filed for recalling of the order dated 16.10.2023 passed in CA (AT) (Ins) No. 184 of 2023 only on the gro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 an appeal though it was amenable to appeal in terms of Section 62 of the Code. Ultimately, the appeali.e. CA (AT) (Ins) No. 636 of 2020 was allowed on 23.08.2022. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dment, 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 with a detailed order on 16.10.2023, therefore, the only recourse available to the Appellant is to challenge the order dated 16.10.2023 by way of further appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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