AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
IA No.1096/2023 in Comp App (AT) (CH) (Ins) No.101/2022:
Heard Mr. P.H. Arvindh Pandian, the Learned Senior Counsel appearing for the ‘Petitioner’ / ‘Appellant’ in instant Comp App (AT) (CH) (Ins) No.101/2022.
It is brough to the notice of this ‘Tribunal’ that the erstwhile Resolution Professional Mr. T.R. Ravichandran (1st Respondent) was replaced by the new incumbent Resolution Professional Mr. Anil Kumar Khicha. This being the factual position of the proceedings, correcting the fitness of things that substitute as 1st respondent in main ‘Appeal’ instead of Erstwhile Resolution Professional Mr. T.R. Ravichandran allowing the instant IA No.1096/2023.
The Learned Senior Counsel, Mr. Venkatavardan, appearing for new Resolution Professional has no objection for allowing the instant IA No.1096/2023 in the Comp App (AT) (CH) (Ins) No.101/2022, by this ‘Tribunal’, to secure the ends of Justice.
Even the Erstwhile Resolution Professional, the Learned Counsel namely 1st Respondent Mr. Sathyanarayanan has no objection for the same. In view of the fact, that the earlier former Resolution Professional Mr. T.R. Ravichandran (1st Respondent) was replaced by new Resolution Professional Mr. Anil Kumar Khicha, to prevent an ‘Aberration of Justice’ and in furtherance ‘Substantial Cause of Justice’, this ‘Tribunal’, ‘allows’ the IA No.1096/2023 in Comp App (AT) (CH) (Ins) No.101/2022. No costs.
Consequent to the, allowing of IA No.1096/2023 in Comp App (AT) (CH) (Ins) No.101/2022, the ‘Appellant’, is required to amend the Cause Title / Memo of Parties in Main Comp App (AT) (CH) (Ins) No.101/2022 and also correct the ‘Appeal Paper Book(s)’, wherever it is necessary for this purpose to carried out the amendment, the Learned Counsel is directed to make out this correction and to file the fresh Memo of clean copy today itself, before the ‘Office of the Registry’, without fail.
Contempt Case No.3/2022:
Mr. P.H. Arvindh Pandian, the Learned Senior Counsel appearing for the ‘Applicant’ / ‘Petitioner’ in Contempt Case No.3/2022 on the file of this ‘Tribunal’, informs this ‘Tribunal’ that the ‘Applicant’ / ‘Petitioner’ has not pressing the instant Contempt Case No.3/2022. Recording the said fact, the instant Contempt Case No.3/2022 is ‘dismissed as not pressed’.
Comp App (AT) (CH) (Ins) No.101/2022:
Pursuant to the legal opinion secured by the ‘Committee of Creditors’ from Mr. B.S.V. Prakash Kumar (former President of the NCLT, New Delhi), the ‘Committee of Creditors’ had passed a Resolution on 16.10.2023, in the meeting with an approval of 99.08%.
“RESOLVED THAT on the basis of the legal opinion of Mr. B.S.V. Prakash Kumar, Former Acting President of NCLT, which states that the CD is an MSME and on perusal of the same, it appears to the CoC that the Corporate Debtor is an MSME and request the Resolution Professional to apprise / file before the NCLAT the said legal opinion and seek necessary directions to continue with the CIRP of the Corporate Debtor”.
It is quite evident that resting upon the request of CoC in the meeting that took place on 16.10.2023, the new ‘Resolution Professional’, Mr. Anil Kumar Khicha, had filed an affidavit dated 17.10.2023 and seeking necessary Orders to be passed by this ‘Tribunal’.
In view of the affidavit filed by the 1st respondent (New Resolution Professional), the instant Comp App (AT) (CH) (Ins) No.101/2022 is ‘allowed’ thereby, Impugned Order dated 16.03.2022 in IA No.146/CHE/2022 in IBA/45/2020 is hereby set aside by this ‘Tribunal’. As a logical corollary, the Appellants’ as a ‘MSME’ is entitled and eligible to pressing the Resolution Plan before the ‘Committee of Creditors’ and it is for the ‘Committee of Creditors’ to take a final call in the matter in a dispassionate manner, and of course, in the manner known to ‘Law’ and in accordance with ‘Law’. No costs. The connected pending IA Nos.230/2022 (For Stay), 651/2023 (For Urgent Hearing) and 1016/2022 (For Intervention) are closed.