AI Structured Summary
Not yet generated for this judgment
Judgment
11.07.2025: Heard Counsel for the appellant as well as Ld. Counsel for the liquidator.
This appeal has bene filed by the appellant challenging the order passed by the Adjudicating Authority dated 22.04.2025 under Section 34(3) read with Section 19(2) of the IBC. The prayers in the application have been noticed in para-2 of the order which are as follows:-
“The Applicant in the present application has prayed for the following reliefs: -
a)To allow the present application;
b)To pass an order directing the Respondents to provide the information and documents sought by the Applicant;
c)To pass an order directing the Respondents to assist the Applicant in the effective Liquidation process of the Corporate Debtor;
d)To pass an order directing the Respondent No.3 to refund the part of the earnest money deposited by Pantel Technologies Private Limited amounting to Rs.49,41,000/- (Rupees Forty-Nine Lakh Forty-One Thousand Only), out of Rs.60,00,000/-(Rupees Sixty Lakh Only).
e)any such order that this Hon’ble Tribunal deems fit to serve the end of justice.”
The Adjudicating Authority has disposed of the application by issuing directions in paragraph 12 & 13 which are reproduced below:-
“12.Thus, in view of Section 19(3) read with Section 34(3), the Respondent No.1 & 2 are directed to cooperate and provide assistance to the Liquidator as may be required by him in managing the affairs of the Corporate Debtor. Additionally, the assets stored in the warehouse managed by YCH Logistics Private Limited, under the supervision of Respondents No.1 & 2, shall be handed over to the Applicant Liquidator at the earliest. The Respondents are further directed to provide all relevant information and documents which are in their possession necessary for due completion of Liquidation Proceedings in accordance with provisions of the Code, 2016. In view of the above, ordered accordingly.
13.In light the above, I.A. No. 2831 of 2019 in C.P. (IB) No. 398 of 2017 stands allowed and accordingly, disposed of.”
Appellant is aggrieved by only part of the order contained in paragraph 12 that is where Adjudicating Authority directed “Additionally, the assets stored in the warehouse managed by YCH Logistics Private Limited, under the supervision of Respondents No.1 & 2, shall be handed over to the Applicant Liquidator at the earliest.” Counsel for the appellant submits that the said prayer was not even included in the application and hence the direction to appellant ought not to have been made. Ld. Counsel for the Liquidator submitted that liquidator is filing an application for rectification of the order passed by the Adjudicating Authority impugned in the appeal especially direction in paragraph -12.
We have considered the submissions of the parties and perused the record. In view of the stand taken by parties we are of the view that as on date no action need to be taken against the appellant with respect to direction in paragraph–12 as extracted above. We make it clear that if any order subsequently passed on the application of liquidator as submitted, parties may act accordingly and no issue with regard to that is under consideration in the present appeal. With the above directions, we dispose of the appeal.
We make it clear that we are not expressing any opinion on the merits of the contentions including defences raised by the parties.