9911796707
TMI Blog2023 (12) TMI 1150X X X X Extracts X X X X X X X X Extracts X X X X ..... BI? - HELD THAT:- The chronology of dates and events establishes that the Appellant was present and heard on several dates specifically regarding the issue on hand. It is pertinent to mention that when the Advocate Commissioner was appointed to facilitate the handover of the documents and implement the Order of the Adjudicating Authority regarding the transition of the control and custody of the statements, records and assets of the Corporate Debtor Company, there was no whisper of protest by the Appellant herein or any bonafide submission before the Adjudicating Authority that the transition would be done within the time frame given by the Adjudicating Authority. The fact that one weeks time was given and thereafter, the Adjudicating Aut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tracted as hereunder : 2. Mr. V. Venkata Sivakumar, the erstwhile Liquidator, submitted that he was not present during the hearing and an adverse Order was passed without giving the Appellant an opportunity of being heard. It is submitted that the Order in IA. No. 815 / 2023 was reserved on 22.03.2022 but was uploaded only on 06.07.2022, giving seven days time from 01.07.2022 to handover the control and custody of all documents and assets of the Corporate Debtor to the new Liquidator. It is submitted that the Appellant was ready with all the records and documents on 16.07.2022 but could handover the same only on 25.03.2023 because the First Respondent / the new Liquidator after the Second meeting on 03.08.2022, sugge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned Counsel for the First Respondent / the new Liquidator submitted that the Adjudicating Authority had, by a reasoned Order dated 01.07.2022, replaced the Appellant on specific grounds, and directed him to handover the control and custody of the Corporate Debtor and its records within seven days from the date of Order dated 01.07.2022; that the Appellant instead of complying with the said Order moved an Application IA(IBC)/754/2022 seeking an extension of 30 days for compliance; that the new Liquidator filed an Application IA No. 755/2022 for direction to the Appellant to handover the documents for a smooth transition. When the Impugned matter came up for hearing on 15.07.2022, the adjudicating Authority directed both parties to meet ph ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subsequently the Liquidator, the Appellant did not have any stock sheet to show the records or assets of the Corporate Debtor taken over during his tenure. Learned Counsel submitted that all scandalous remarks made against the First Respondent and other parties in the grounds of Appeal be expunged. 7. The short point which falls for consideration in this Appeal is whether the Adjudicating Authority was justified in making some observations against the erstwhile Liquidator / the Appellant herein, and directing the Registry to forward a copy of the Compliance Affidavit and report of the Court Commissioner to IBBI. 8. It is the main case of the Appellant that without adhering to Principles of Natural Justice, the Impugned Order was passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be handed over by the Appellant to the new Liquidator. The facts of the case establish that this situation of stalemate between the parties had necessitated the appointment of this Advocate Commissioner. The Application IA No. 755 / 2022 was further listed for hearing on 31.01.2023. On 25.04.2023, the final report of the Advocate Commissioner was filed. It is submitted by the Appellant that the Advocate Commissioner had mentioned in his report that there was good cooperation from the staff of the new Liquidator for smooth transition of the records, which was ignored by the Adjudicating Authority. It is clear from the report and the Orders that it was only after the appointment of the Advocate Commissioner that the records were handed over ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... que books, etc. A total list of 377 items was made. Keeping in view these facts and circumstances of the attendant case on hand, we are of the considered view that the Appellant was very much present for all previous hearings, relevant to the matter on hand, the Advocate Commissioner was appointed only on account of the situation which has arisen based on the non-handing over of the said documents to the new Liquidator / First Respondent, and therefore, his contention that Principles of Natural Justice was not adhered to, is untenable. 11. For all the fore going reasons, we do not find any illegality or infirmity in the Impugned Order. This Appeal is dismissed. No Order as to costs. Needless to add, the Appellant is at liberty to raise a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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