AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
19.03.2024: I.A. No. 1760 of 2024 :- This is an application praying for condonation of 12 days’ delay in filing the Appeal. Learned Counsel for the Appellant submits that the Appellant contacted a local counsel at Delhi and it took some time in coordination and finalizing the Appeal. Cause shown sufficient. Delay of 12 days’ in filing the appeal is hereby condoned.
I.A. No. 1609 of 2024 :- This is an application praying for condonation of 80 days’ delay in re-filing the Appeal. The ground taken in the affidavit is that after defect was notified some time was taken in coordinating for the rectified signed copy of the appeal and Appellant is based out of Ahmedabad city and the Counsel is in Delhi, therefore, it took time to coordinate in curing the defects. Cause shown sufficient. Re-filing delay is condoned.
Company Appeal (AT) (Insolvency) No. 504 of 2024 :-
Heard Learned Counsel for the Appellant.
This Appeal has been filed against the order dated 03.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Division Bench-I, Ahmedabad in IA No. 661(AHM)2022. By the impugned order, the Adjudicating Authority has rejected the application and imposed the cost of Rs.1,00,000/-. Appellant aggrieved by the said order has come up in this Appeal.
The CIRP of the Corporate Debtor was commenced on 31.08.2021. A letter was submitted by the Appellant on 30.05.2023 to the Resolution Professional stating that the Appellant is desirous to submit a Resolution Plan for revival of the Corporate Debtor. Resolution Professional replied the said letter on the same date informing that there is already decision by the CoC for liquidation and the application for liquidation is pending before the Adjudicating Authority. It was thereafter IA No. 661 of 2022 was filed by the Appellant for different reliefs as quoted in paragraph 1 of the order. The Adjudicating Authority rejected the application taking the view that IA No.769 of 2021 seeking liquidation was heard and reserved for orders on 21.09.2023.
Learned Counsel for the Appellant submits that the liquidation has already been directed on 03.10.2023. It is submitted that the Appellant has although no vested right to submit a plan but the Adjudicating Authority committed error in not given an opportunity and further imposition of cost of Rs.1,00,000/- was uncalled for.
We have considered the submissions of the Appellant and perused the record.
The CoC having already taken a decision to liquidate the Corporate Debtor and IA No. 769 of 2021 have been filed which was reserved for orders, there is no error committed by the Adjudicating Authority for rejecting the IA filed by the Appellant. However, we are of the view that there is no reason to imposing the cost on the Appellant. We, thus, dismiss the Appeal subject to deletion of the cost imposed on the Appellant.
Appeal is dismissed.