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TMI Blog2024 (9) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... smissing the application on 01.02.2024 by the Adjudicating Authority, no liberty was granted to file a fresh petition. While dismissing the application in noncompliance, Adjudicating Authority has not granted any liberty to file any fresh petition for the reasons which have been given. Reliance of the Appellant on the order dated 28.02.2024 claiming that clear liberty was granted to file fresh petition need to be noticed. The liberty to re-file was granted on the request made by the Appellant himself that he wanted to withdraw the petition with liberty to re-file under Section 94 of the Code as per law. The Appellant was permitted to withdraw IA No.519 of 2024 with liberty to re-file under Section 94(1) of the Code. Adjudicating Authority in order dated 28.02.2024 has not expressed any opinion as to whether application which is to be re-filed by the Appellant under Section 94(1) shall be maintainable or not. The Adjudicating Authority did not commit any error in dwelling on the question as to whether the application which is filed on 29.02.2024 being Company Petition is maintainable or not. As noted above, no liberty to file fresh petition was granted when order was passed on 01.02 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 94 of the Code as per law. Adjudicating Authority has permitted the Applicant/ Appellant to withdraw IA No.519 of 2024 with liberty as prayed. After the order dated 28.02.2024, Appellant filed a fresh application under Section 94 on 29.02.2024. When the application came for consideration issue regarding maintainability of the application was raised. On the question of maintainability of the application, parties were heard and order was reserved on 04.04.2024 and by impugned order dated 17.05.2024, Adjudicating Authority has dismissed the application under Section 94(1) as not maintainable. Aggrieved by the impugned order, Company Appeal (AT) (Insolvency) No.1146 of 2024 has been filed. 3. Another Company Appeal (AT) (Insolvency) No.1147 of 2024 has been filed on same facts and challenging the identical order passed by the Adjudicating Authority. 4. We have heard Counsel for the Appellant, Counsel appearing for the IDBI Bank and Counsel for the Punjab National Bank. 5. Counsel for the Appellant in support of the Appeal contends that when the Adjudicating Authority granted liberty by order dated 28.02.2024 to re-file the application under Section 94(1), the application could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RT, Chandigarh by order dated 28.06.2024. Entire sale consideration has been received and sale certificate has also been issued. 9. The fact is undisputed that in application under Section 94 filed on 24.09.2020, Adjudicating Authority passed various orders directing the Appellant to make the application in order. An order was passed by the Adjudicating Authority on 01.02.2023 granting three weeks further time for making compliance of the earlier order. On 01.02.2023, following order was passed:- A date is requested by learned counsel for the petitioner for making compliance of order dated 06.05.2022. Let the same be done within three weeks, failing which appropriate orders will be passed. List the matter on 21.03.2023. 10. Subsequently, on 01.02.2024, the application being CP (IB) No. 77/CH/HP/2021 came for consideration on which date Adjudicating Authority passed an order dismissing the application for non-compliance. In the appeal, Appellant has not filed the copy of the order dated 01.02.2024. However, the order dated 01.02.2024 has been quoted by the Adjudicating Authority in paragraph 6 of the order. Order dated 01.02.2024 reads as under : - It is seen that the present petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . File be consigned to record room. 12. The order dated 01.02.2024 was not challenged and has become final. Appellant has filed application being IA No.519 of 2024 praying for restoration of the Application. Application being IA No.519 of 2024 came for consideration on 28.02.2024 on which date, following order was passed:- This application has been filed by learned counsel for the applicant seeking restoration of the main Company Petition bearing CP(IB) No. 77(CH) 2021 filed under Section 94(1) of the Code, which was dismissed on 01.02.2024. After arguing sometime, it is stated by learned counsel for the applicant that he may be permitted to withdraw the present petition with liberty to refile the petition under Section 94(1) of the Code as per law, Keeping in view the statement made by learned counsel for the applicant, IA No. 519/2024 is dismissed as withdrawn with liberty aforesaid. 13. When we look into the order dated 28.02.2024, it is clear that after making some submissions in the restoration application IA No. 519 of 2024, Appellant prayed that he be permitted to withdraw the application with liberty to re-file the petition under Section 94(1) of the Code as per law. Adjudi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the IBC. 17. The facts as noted above clearly indicate that while dismissing the application on 01.02.2024 by the Adjudicating Authority, no liberty was granted to file a fresh petition. While dismissing the application in noncompliance, Adjudicating Authority has not granted any liberty to file any fresh petition for the reasons which have been given in paragraph 12 itself. Reliance of the Appellant on the order dated 28.02.2024 claiming that clear liberty was granted to file fresh petition need to be noticed. As noted above, liberty to re-file was granted on the request made by the Appellant himself that he wanted to withdraw the petition with liberty to re-file under Section 94 of the Code as per law. The Appellant was permitted to withdraw IA No.519 of 2024 with liberty to re-file under Section 94(1) of the Code. Adjudicating Authority in order dated 28.02.2024 has not expressed any opinion as to whether application which is to be re-filed by the Appellant under Section 94(1) shall be maintainable or not. The Appellant himself taken liberty to re-file the petition under Section 94 (1) of the Code as per law. Thus, the Adjudicating Authority did not commit any error in dwellin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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