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Judgment
O R D E R
06.02.2024: The Ld. Counsel for the Appellant points out that the Appellant has preferred the instant CA (AT) (Ins) No. 510 of 2023 before this Tribunal as an ‘aggrieved person’ in respect of the impugned order dated 09.03.2023 in IA No. 1336 of 2022 passed by the Adjudicating Authority/National Company Law Tribunal, New Delhi Bench, Court-II.
Earlier, the Adjudicating Authority/National Company Law Tribunal, New Delhi Bench, Court-II while passing the impugned order on 09.03.2023 in IA No. 1336 of 2022 had among other things observed that ‘the application is disposed of with a direction that the CoC would take a final decision regarding the claim of the RP/IRP regarding his professional fees within two weeks. It goes without saying that in the event of subsistence of the grievance of the Applicant in the IA after the decision of the CoC, his remedy would lie before IBBI’.
The filed plea taken on behalf of the Appellant by the Ld. Counsel for the Appellant is that the Adjudicating Authority/Tribunal, while passing the impugned order dated 09.03.2023 in IA No. 1336 of 2022 had exceeded its authority/ jurisdiction in making an observation to the effect ‘after the decision of CoC his remedy would lie before IBBI’. In any other ward, the emphatic stand of the Appellant is that ‘after the decision of CoC the Applicants remedy would lie before IBBI’ is incorrect and illegal observation made by the Adjudicating Authority/Tribunal and in fact as per Section 196 of the Insolvency and Bankruptcy Code, 2016 the powers and functions of the IBBI Board are circumscribed expressly by the Insolvency and Bankruptcy Code, 2016 and since the observation that ‘the remedy lie before IBBI is liable to be expunged.
Upon hearing the submissions projected on the side of the Appellant through Ld. Counsel Mr. Sandeep Bajaj, this Tribunal finds force in the contentions advanced that ……‘his remedy would lie before the IBBI’ is an incorrect one and hence, this Tribunal, while in the fitness of things, fair play, equity good conscience is perforced to condition to interfere with the said observations made by the Adjudicating Authority/Tribunal in the impugned order dated 09.03.2023 in IA No. 1336 of 2022. Accordingly, this Tribunal directs that the words/sentence occurring in last two lines of the order to the following effect his remedy would lie before IBBI stands expunged, to prevent of an aberration of justice and to promote substantial cause of justice.
At this juncture, the Ld. Counsel for the Appellant seeks permission from this Tribunal to withdraw the instant CA (AT) (Ins) No. 510 of 2023. Acceding to his request, the instant CA (AT) (Ins) No. 510 of 2023 is dismissed as withdrawn. No costs.