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Judgment
This Appeal has been filed against order dated 06.02.2024 passed by the Adjudicating Authority on an application filed under Section 95 by which order the Resolution Professional has been appointed.
Learned counsel for the Appellant challenging the order submits that the Security Trustee has no jurisdiction to invoke guarantee.
We are of the view that at the stage when Resolution Professional has been appointed, all these issues which are sought to be raised by the Appellant cannot be raised and can be raised when application comes for admission or rejection under Section 100 before the Adjudicating Authority. The above position of law has been laid down by the Honble Supreme Court in Dilip B Jiwrajka vs. Union of India & Ors., Writ Petition (Civil) No.1281 of 2021 decided on 09.11.2023.
We thus following the aforesaid judgment are of the view that this appeal cannot be entertained at this stage. It is open for the Appellant to raise all issues before the Adjudicating Authority and it is also open to the Appellant to file objection to the report of the Resolution Professional. With these observations we dispose of this appeal.