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Judgment
O R D E R
15.12.2023: This Appeal has been filed against the Order dated 02nd August, 2023 by which order I.A. No. 380/KB/2022 which was filed by the Appellant has been rejected.
The Corporate Insolvency Resolution Process of the Corporate Debtor commenced on 21st April, 2019. The Appellant herein who claims to be erstwhile Managing Director of the Corporate Debtor filed the Application on 19th April, 2022 to recall the CIRP Order. The prayers made in the Application were as follows:
“2.The interlocutory application being I.A. No. 380/KB/2022 has been filed by Mr. Aziz Husain, being the erstwhile managing director of the Corporate Debtor under section 76 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking the following reliefs against the Respondents herein:
a)For Recall the order dated 21 October 2019 in the present company petition being C.P.(IB) No. 546/KB/2019;
b)Initiate appropriate actions and/or proceedings in accordance with law against the Respondent No. 1, the Corporate Debtor therein, for non-disclosure of dispute raised by the Respondent No. 2, the Operational Creditor therein;
c)Pass any other order/direction as this Adjudicating Authority may deem fit and proper in the facts and circumstances of the case.”
The Adjudicating Authority rejected the Application taking the view that the Adjudicating Authority is not satisfied with the viability of the reasons submitted by the Appellant for delay in filing the Application. Admittedly, the Application was filed after more than two and half years of initiation of CIRP and whereas Liquidation Order also had already been passed on 28th May, 2021. After the Liquidation Order was passed, the Appellant had filed the Application praying for recall of the CIRP order. We are of the view that the Adjudicating Authority has rightly rejected the said application.
Learned Counsel for the Appellant submitted that certain concealment and misstatement were made in the Petition filed for initiation of CIRP, we are of the view that at the instance of the Appellant in the I.A. the Adjudicating Authority has rightly not entertained any such statement.
We do not find any error in the Order impugned however it shall be however open for the Appellant to take such other remedy as available in law. With these observations, we dismiss the Appeal.