9911796707
TMI Blog2025 (1) TMI 1043X X X X Extracts X X X X X X X X Extracts X X X X ..... ank of Assistant General Managers and Deputy General Managers to sign/ execute applications, appeals, vakalatnama before NCLTs, NCLATs, High Court and Supreme Court, hence, the application under Section 7 which was filed by Assistant General Manager on 28.06.2019 cannot be said to be without a proper authorization. Hence, there are no substance in the submission of the Appellant that application was not filed by authorized person. Further after the liberty was granted by the Adjudicating Authority, the form was amended with regard to date of default which form was signed by officials who are authorized at relevant time when form was signed which also does not suffer from any infirmity. Application barred by time - HELD THAT:- The letter iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... And [ Arun Baroka ] Member ( Technical ) For the Appellant Mr. Kanishk Khetan , Mr. Akash Srivastava , Advocates For the Respondents Mr. Karan Gandhi , Mr. Sikhar Tiwari, Ms. Vidhika Kapoor , Advocates for RP Mr. Ashish Verma , Mr. Nikhil Thakur , Advocates ORDER ( Hybrid Mode ) Heard Counsel for the Appellant as well as Counsel appearing for the Respondents. 2. This Appeal has been filed by Suspended Director of the Corporate Debtor challenging the order dated 05.04.2024 by which order Section 7 application filed by Bank of India has been admitted. The Adjudicating Authority returned finding of debt and default and on the said finding has admitted Section 7 application. 3. Counsel for the Appellant challenging the order submits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the said date and hence, application cannot be said to be barred by time. He further submits that continuously OTS proposal was given which was also approved by the financial creditor but default was committed by the corporate debtor in complying the OTS proposal. It is submitted that the application was well within time. 6. We have considered the submissions of the Counsel for the parties and perused the record. 7. Coming to the first submission of the Appellant that proceedings was by unauthorized person, on the paper-book at page 480, a Circular of the Bank of India has been brought on record which was issued on 18.07.2019. In paragraph 3 of the said Circular, following was stated:- "3. In the above context our Board has approved i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the Appellant that the application was barred by time. Since the date of default has to be treated to be 29.08.2012, counsel for the Appellant has referred to the letter dated 29.08.2012 issued by the Bank of India. The said letter reads as follows:- "Bank of India The Bank That Cares e-mail: Janpath.New Delhi@ bankofindia.co.in Fax: 011-2332099. Telephones: 23320986(AGM), 28844059(CM). 28844060, 23355521 JANPATH Branch, 66, Janpath New Delhi-110001 ---------------------------------------------------------------------------------------------------- Ref No: JP/ADV/UCV/110 Date: 29-08-2012 ---------------------------------------------------------------------------------------------------- M/S West Fac ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
