Raajul Ketan Raj vs Rajkot Nagarik Sahakari Bank Ltd

These three Appeals have been filed by the Personal Guarantors challenging the order passed by the Adjudicating Authority on application filed under Section 95(1) by the Rajkot Nagarik Sahakari Bank Ltd., by which order the Adjudicating Authority has appointed the Resolution Professional. Aggrieved by the said order these Appeals have been filed.

It is contended by Shri Dhruv Mehta, learned senior counsel for the Appellant that in Company Appeal (AT) (Ins.) No. 1013 of 2023, the guarantee is not even signed by the Appellant and with regard to other Appeals there are several other infirmities including the issue of limitation in filing application under Section 95(1).

We are of the view that the Adjudicating Authority having directed the Resolution Professional to submit a report, the copy of the Report will be given to the Appellants and the Appellants shall have right to file their objections to the Report of the Resolution Professional and thereafter when the matter comes before the Adjudicating Authority for admission/rejection under Section 100, at that time all issues sought to be raised by the Appellants can be raised. While passing the order of admission/rejection, the Adjudicating Authority is to consider all the objections of the Appellants and decide the matter in accordance with law. At this stage, we see no reason to entertain these Appeals. With these observations, we dismiss these Appeals.