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Judgment
O R D E R
22.09.2021: In terms of Order dated 17.08.2021, Learned Counsel for the Liquidator has filed hard-copy of Additional Affidavit which is taken on record.
Heard Learned Counsel for the parties. From the perusal of paragraph 6 of the Additional Affidavit, it reveals that a coordinate bench of this Appellate Tribunal on 16.06.2021 was pleased to allow withdrawal of an appeal, being Company Appeal (AT) Insolvency No. 13 of 2020, on the ground that the Liquidation proceedings have been initiated against the Corporate Debtor vide the Liquidation Order dated 07.05.2021.
The Order of withdrawal dated 16.06.2021 passed by this Tribunal in I.A. No. 1035 of 2021 in Company Appeal (AT) Insolvency NO. 13 of 2020 read as under:
“16.06.2021: Heard Advocate Shri Utkarsh Singh. It is stated that the Company Appeal (AT) (Insolvency) No. 13 of 2020 was filed when Interim Resolution Professional (IRP) only partly admitted the claims of the Appellants. It is stated that now the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor is at the stage of liquidation and the Appellants have filed or would be filing their claims with the Liquidator. It is thus stated that the Appellants have decided to withdraw the Appeal. Learned Counsel states that the Affidavit for withdrawal has been filed by Director Shri Mahesh Dievasigamani who is the authorized person on behalf of all the Appellants. Learned Counsel states that the Appellants want to withdraw the Appeal unconditionally.
2.Learned Counsel for the Liquidator submits that there are other Appeals also which would become infructuous because the matter is now at the stage of liquidation. The Learned Counsel may give the list to the Court Master.
3.For reasons stated in the Interlocutory Application No. 1035 of 2021 and submissions made by the Learned Counsel for the Applicants, the Appeal is disposed.
4.Company Appeal (AT) (Insolvency) No. 13 of 2020 is disposed as withdrawn without liberty to challenge the same impugned order.
5.No costs.”
Learned Counsel for the Appellants submits that as the matter has gone into the liquidation process, the Appeals bearing no. Company Appeal (AT) (Ins.) No. 1157 of 2019, Company Appeal (AT) (Ins.) No. 1413 of 2019, Company Appeal (AT) (Ins.) No. 1416 of 2019, Company Appeal (AT) (Ins.) No. 1426 of 2019, Company Appeal (AT) (Ins.) No. 1519 of 2019, Company Appeal (AT) (Ins.) No. 01 of 2020, Company Appeal (AT) (Ins.) No. 134 of 2020 and Company Appeal (AT) (Ins.) No. 144 of 2020 have also become infructuous in the light of Liquidation Order dated 07.05.2021 passed by Ld. NCLT, Mumbai Bench-Court II in I.A. No. 1623 of 2019 in CP(IB) 1832/MB/C-II/2017.
However, Learned Counsel for the Appellants appearing in Company Appeal (AT) (Ins.) No. 1474 of 2019 and Company Appeal (AT) (Ins.) No. 14 of 2020 submits that these Appeals have not become infructuous as these two Appeals have not been covered by the Order of Liquidation dated 07.05.2021 passed by NCLT, Mumbai Bench. List these two Appeals separately ‘For Directions’ on 23rd November, 2021.
In Company Appeal (AT) (Ins.) No. 42 of 2020, Learned Counsel for the Appellant-Mr. Nakul Mohta, Advocate submits that Operational Creditor has filed its claim before the Resolution Professional who passed non-speaking order and against that order, the Operational Creditor has filed the Application before the Ld. NCLT, Mumbai Bench which was not considered by the Adjudicating Authority and the Adjudicating Authority passed order in M.A. No. 2738 of 2019 and M.A. No. 354 of 2019 in CP No. 1832/IBC/NCLT/MB/MAH/2017 dated 20.09.2019 whereby I.A. No. 2738 of 2019 was dismissed and I.A. No. 354 of 2019 was rejected as the Resolution Plan of Royal Partners Investment Fund Limited has been approved by a majority of 73.17% of the creditors.
In view of the submissions made on behalf of Learned Counsel for the Appellant in Company Appeal (AT) Ins. No. 42 of 2020, this Appeal also stand dismissed as withdrawn. Learned Counsel for the Appellant in Company Appeal (AT) Ins. No. 42 of 2020 may raise issues and grievances before the Liquidator.