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Judgment
ORDER
15.09.2022: Heard Learned Counsel for the parties. This appeal has been filed against the order dated 03.02.2022 passed by ‘National Company Law Tribunal’, Cuttack Bench, Cuttack, by which order, Application u/s 7 filed by the IDFC Bank on 23.02.2018. Subsequently, the order of liquidation was passed on 23.10.2019. Liquidator has passed an order on 28.05.2020 holding that Appellant was not the ‘Secured Creditor’ nor he has lien on the goods. Challenging the said order, an Appeal was filed by Appellant before the Adjudicating Authority which has been rejected by the impugned order, relying on the order passed by the Adjudicating Authority dismissing an identical appeal filed by the Appellant in the case of Visa Power Limited and also relying on the judgement of this Appellate Tribunal in the Company Appeal (AT)(Ins.) No. 22/2020 ‘Bharat Heavy Electricals Ltd. Vs. Mr. Anil Goel & Ors’.
Shri Sanjiv Sen, Learned Sr. Counsel for the Appellant challenging the order submits that the claim of the Appellant that they are the secured creditor and they have lien on the goods, have been wrongly rejected by the Adjudicating Authority which has relied on an earlier order passed by this Tribunal against which the Appellant has already filed an appeal in the Hon’ble Supreme Court where Hon’ble Supreme Court has also passed an Interim Order in Civil Appeal No. 3399/2020 ‘Bharat Heavy Electricals Ltd. Vs. Mr. Anil Goel & Ors.’ on 05.01.2021 which appeal is pending for final disposal.
Shri Neeraj Malhotra, Learned Sr. Counsel for Respondent refuting the submission of the Learned Counsel for the Appellant contends that no error was committed by the Adjudicating Authority in rejecting the claim of the Appellant as secured creditor and refusing to accept any lien of the Appellant on the goods. It is submitted that the Appellant had already filed an appeal with regard to similar matter in this Tribunal and this Tribunal had also dismissed the appeal by the order passed on 10.08.2020 in Company Appeal (AT)(Ins.) No. 22/2020. Mr. Neeraj Malhotra, Learned Sr. Counsel for the Respondent further submitted that there is some difference in the present case with regard to Visa Power Ltd.
The Adjudicating Authority relying on the order of this Tribunal in Company Appeal (AT)(Ins.) No. 22/2020 has dismissed the appeal filed by the Appellant. Admittedly, the civil appeal has already been filed by the Appellant before the Hon’ble Supreme Court challenging the order of this Tribunal which was relied by the Adjudicating Authority.
In view of the aforesaid, we are of the view that this appeal also need to be dismissed in terms of the order dated 10.08.2020 passed in Company Appeal (AT)(Ins.) No. 22/2020. The appeal is accordingly dismissed.
In this appeal we had already passed an Interim Order on 30.03.2022 to the following effect:-
“Learned Counsel for the Appellant submits that in an Appeal filed before the NCLAT by the Appellant, this Appellate Tribunal has decided a similar case against which a Civil Appeal has been filed by the Appellant wherein an Interim Order has been passed by the Hon’ble Supreme Court of ‘Status-Quo’.
2.Learned Counsel for the Appellant submits that similar order of status-quo be passed by this Tribunal as has been passed by the Hon’ble Supreme Court in an identical issue.
3.Learned Sr. Counsel for the Respondent Mr. Krishnendu Datta may file Reply-Affidavit within two weeks. Rejoinder, if any, may be filed within two weeks, thereafter.
List this Appeal on 02nd May, 2022. Meanwhile, Status-Quo as is existing regarding the plant and machinery shall be maintained.”
In fact of the present case, we are of the view that the order of status quo passed by this Tribunal may continue for a period of two weeks from today to enable the Appellant to approach the Hon’ble Supreme Court.