K.M. Sebastine vs State Bank of India

Heard learned counsel for the Appellant. This Appeal has been filed against the order dated 09.12.2022 by which order the Adjudicating Authority has appointed the Resolution Professional and asked for report to be submitted under Section 99. Learned counsel for the Appellant contends that orders have been passed in violation of principles of natural justice without giving opportunity to the Appellant to raise objection on limitation and jurisdiction of the Adjudicating Authority. It is submitted that the Resolution Professional has asked for financial documents from the Appellant.

We have considered the submissions of learned counsel for the Appellant and perused the record.

The Adjudicating Authority in the order has already noticed that limited notice to Respondent has already been served and learned counsel for the Respondent has also appeared on the date.

By order dated 09.12.2022 Resolution Professional has been appointed who will submit the report. The Appellant shall have right to file its objection to the report of the Resolution Professional and it is always open for the Appellant to raise all objections regarding limitation and jurisdiction, etc., which need to be considered by the Adjudicating Authority at the time of admission/rejection under Section 100 of the Code. We are of the view that at this stage Appeal need not be entertained. With liberty as above, Appeal is dismissed.