AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Learned Counsel for the Appellant as well as Learned Counsel for the Financial Creditor.
These Appeals have been filed against the Order dated 18th January, 2024 passed in three applications under Section 95 by the Financial Creditor against the personal guarantors.
The Appellant is Resolution Professional who was appointed in 95 proceedings. The grievance of the Appellant is that on 18th January, 2024 when the case was taken, the learned counsel appearing on behalf of the RP was unable to assist due to some technical glitch and due to said reason the Adjudicating Authority issued a notice to the IBBI regarding the contemptuous attitude of the RP. The observations made by the Adjudicating Authority in the Order is as follows:
“Mr. Parish Mishra, Ld. Counsel appearing for the RP is unable to assist the Court in any manner. Let the notice be issued to IBBI regarding the contemnors and attitude of RP.”
Learned Counsel for the Appellant has pointed out that after the appointment of RP in Section 95 Proceeding, there was an order passed by this Tribunal in C.A.(AT) Ins. No. 692 of 2023 and 693 of 2023 dated 30th May, 2023 by which order the RP was directed not to submit a Report and liberty was granted to the Personal Guarantor to file objections.
Further the Order indicates that certain settlement talks between the financial creditor and personal guarantors were on. The fact that counsel appearing for the RP could not assist the Court, could not be a ground to issue a direction to IBBI regarding attitude of the RP. We thus are of the view that directions issued in the order as noted above on 18th January, 2024 is required to be set aside and is hereby set aside. We make it clear that Adjudicating Authority shall proceed with Section 95 Application in accordance with law. We are not expressing any opinion on the merits of the case. The Appeals are disposed of, accordingly.