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Judgment
Heard Learned Counsel for the Appellant. This Appeal has been filed against the Order dated 07.01.2022 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench at Ahmedabad, Division Bench, Court-1) in Inv.P/1(MP)2022. By which Order, the Intervention Application i.e., Inv.P/1(MP)2022 filed by the Appellant has been rejected. Appellant claims to be shareholder of the Corporate Debtor and have filed Intervention Application wherein the prayer was made to declare the corporate guarantee dated 10.06.2016 being in contravention of the provisions of the Companies Act. Ld. Adjudicating Authority has rejected the Application on the ground that Application is not maintainable. Learned Counsel for the Appellant submits that relevant facts have not been brought on record by the Financial Creditor.
Even if the Financial Creditor has not brought any relevant material on record, the Corporate Debtor who has to defend its case has every right to raise all pleas permissible in law to oppose the Application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
We see no error in the Impugned Order passed by the Adjudicating Authority refusing the Intervention of the Application. There is no merit in the Appeal, the Appeal is dismissed.