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Judgment
O R D E R
14.02.2023: Heard Learned Sr. Counsel for the Appellant.
This Appeal has been filed against the Order dated 24th January, 2023. By which Order, the Adjudicating Authority (National Company Law Tribunal, New Delhi) in I.A. No. 498 of 2023 has passed following Order:
“IA-498/2023: For the reasons stated in the IA, the order dated 13.01.2023 passed by the Hon’ble NCLAT in Company Appeal (AT) Insolvency NO. 41 of 2023 is taken on record. The said Order passed by Hon’ble NCLAT reads thus:
“Learned counsel for the Appellant submits that the Adjudicating Authority had on an application under Section 7 by the allottees of one project Fernhill situated in Section-91, Gurgaon, Manesar, Haryana has initiated CIRP process against the Corporate Debtor. It is submitted that the Corporate Debtor has several projects and the Appellants are allottees in two projects situated at Lucknow, State of Uttar Pradesh. It is submitted that the Applicant allottees being only concerned with Fernhill project CIRP ought to have been confined to Fernhill project only and projects in other States ought not to have been included. Submission needs scrutiny. Issue notice. Requisites alongwith process fee be filed within three days. Respondents may file Reply within two weeks. Rejoinder be filed within two weeks thereafter List this Appeal on 28.02.2023. We provide that the order of Adjudicating Authority admitting Section 7 application shall confine to ‘Fernhill project’ situated at District Gurgaon.”
The apparent ramification of the order passed by the Hon’ble NCLAT (ibid) is that the order dated 16.11.2022, passed by this Tribunal in IB-330/ND/2021 will remain confined to the ‘Fernhill Project’ and will not apply to any other part, business venture, land, building, project, property, asset or any other manner whatsoever. In other words, the appointment of Shri Ashwani Kumar Singla, IP (Email: [email protected]) having Registration No. IBBI/IPA001/IP-P02035/2020-21/13122 as IRP stands restricted only to ‘Fernhill Project’ and he shall not take any step as mandated under the IBC qua the respondent i.e., M/s. Ansal Properties and Infrastructure Limited, except regarding ‘Fernhill Project’. Any attempt by the RP to exercise any power or resort to any act, beyond ‘Fernhill Project’ would be in defiance of order dated 13.01.2023 passed by Hon’ble NCLAT and would amount to contempt of court, entailing serious consequences. This, however, is subject to any further orders by the Hon’ble NCLAT in the Appeal (ibid) As far as the issue of commencement of CIRP from 13.01.2023 is concerned, the IRP would be at liberty to seek exclusion of period from 16.11.2022 to 13.01.2023 at appropriate stage, if need arises and circumstances so warrant.”
Learned Sr. Counsel for the Appellant relying on the Judgement of this Tribunal in C.A. (AT) Ins. No. 406 of 2022 in “Ram Kishore Arora Suspended Director of Supertech Ltd. Vs. Union Bank of India & Anr.” submits that the direction should be issued as was directed in the above order in paragraph 19. The Adjudicating Authority by the Impugned Order has only noticed the contents of the Order passed by this Tribunal on 13th January, 2023 and has not said anything more. The Judgement which has been relied by Learned Sr. Counsel for the Appellant in Ram Kishore Arora (supra) was on different facts and circumstances and direction as prayed in paragraph 19 cannot be issued in the present case.
In the facts of the present case, we do not find any error in the Order impugned. The Appeal is dismissed.
Learned Counsel for the Appellant after we dictated the order prays that he may be permitted to withdraw the Appeal. Request is rejected. We dismiss the Appeal.