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Judgment
23.08.2024 : This Appeal has been filed by the Personal Guarantor challenging the Order dated 10.05.2024 passed by the Learned Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench, Court II), in C.P. (IB) No. 317 / NCLT / AHM / 2020, by which Order, the Adjudicating Authority rejected the Application under Section 94 filed by the Personal Guarantor, the Appellant herein.
The Comp. App. (AT) (Ins.) No. 1539 of 2024 has been filed by the State Bank of India challenging the same Order dated 10.05.2024, by which Application under Section 94 of the Personal Guarantor has been admitted.
Learned Counsel for both the Parties submitted that the issue raised is fully covered by the Judgment of this Tribunal dated 16.08.2024 in Comp. App. (AT) (Ins.) No. 1447 of 2024 in the matter of `Daksha Pankaj Valia, Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.’ Vs. `State Bank of India & Ors.’. and they prayed that these Appeals be disposed of in terms of the said Order.
After having heard the Counsel for the Parties, we are of the view that issue raised in the Appeal is fully covered by the Judgment of this Tribunal in `Daksha Pankaj Valia, Personal Guarantor to UIC Corporation Pvt. Ltd. & Ors.’ (Supra). Following the Judgment of this Tribunal dated 16.08.2024, Comp. App. (AT) (Ins.) 1483 of 2024 is allowed and the Order impugned is set aside. In view of the setting aside the Order by the Adjudicating Authority dated 10.05.2024 no Orders are required in the Comp. App. (AT) (Ins.) No. 1539 of 2024.
Both the Appeal are disposed of.