Tribunals and CommissionsDivision Bench(2023) 03 NCLAT CK 3912

Bank Of Baroda vs Anuj Jain, Interim Resolution Professional Jaypee Infra Tech Ltd. & Ors.

National Company Law Appellate Tribunal, New Delhi · Decided on 16 March 2023

HON’BLE JUDGES
Ashok Bhushan, Chairperson · Barun Mitra, Member (Technical)
CASE NUMBER
Company Appeal (AT) (Insolvency) No. 297 & 300 of 2023 & I.A. No. 1025 and 1026 of 2023

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Judgment

16 paragraphs · 314 words

O R D E R

Heard Learned Counsel for the Appellant.

2.

This Appeal has been filed against the Order dated 22.11.2022 by which the Adjudicating Authority has decided I.A. No. 5303 of 2022 and I.A. No. 4858 of 2021.

3.

In I.A. No. 5303 of 2022, following order was passed:

“IA-5303/2022 This Application has been filed seeking the following reliefs:-

i)

Take on record the clarifications issued by Respondents nos. 3 and 4: or

ii) Direct that the approval of the Resolution Plan, if approved, shall be subject to the said clarifications;

iii) Direct the Respondent Nos. 3 and 4 to delete the reference to discussions with Yes Bank Limited for amicable resolution/settlement of Jaypee Healthcare Ltd. debt as mentioned in Clause 23; or

iv) Pass such other directions/orders as this Hon’ble Tribunal may deem fit in the interest of justice.

Clarification of respondent nos. 3 and 4 dated 05.09.2022 is taken on record.

In view of the same, the other reliefs become irrelevant.

Accordingly, IA-5303/2022 stands disposed of.”

4.

With regard to another I.A. No. 4858 of 2021, the Adjudicating Authority has held that in view of the Order passed in I.A.-5303/2022, the application has become infructuous.

5.

The order indicates that clarification issued by Respondent Nos. 3 and 4 was taken on record thus prayer made in the application I.A. No. 4858 of 2021 stood satisfied. Therefore, no error has been committed by the Adjudicating Authority rejecting the said application.

6.

Learned Counsel for the Appellant further submits that with regard to I.A. No. 4858 of 2021, he had filed an objection and the observation made in the order that no objection was made, is not correct.

7.

Be that as it may, in view of the nature of the orders which has been passed by the Adjudicating Authority, we see no ground to entertain this Appeal, the Appeal is dismissed.