AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Shri Jayant Mehta, learned counsel for the Appellant. This Appeal has been filed against order dated 02.03.2022 passed by the Adjudicating Authority in I.A. No. 182 of 2020. By the I.A. an application was filed for substitution of the name of the Corporate Debtor with that of the transferee entity. The Adjudicating Authority has allowed the Application. Aggrieved by the said order Appellant has filed this Appeal.
We are of the view that the Adjudicating Authority did not committed any error in allowing the Application filed for substitution of name of the transferee to be substituted in the Section 9 Application. From the materials on the record it can be seen that the Amendment Application mentions about the merger although this was not mentioned in the Section 9 Application.
Learned counsel for the Appellant submits that there was no proper service of notice under Section 8. We are of the view that this issue need not be entertained at this stage and it is always open for the Appellant to raise issues at appropriate stage. With these observations, we dismiss this Appeal.
Learned counsel for the Respondent has also made submission before us that they are in the process of settlement and settlement has already been arrived. We are of the view that it is for the parties to take appropriate steps before the Adjudicating Authority, if any settlement is arrived.