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Judgment
Heard learned counsel for the Appellant as well as learned counsel for the IDBI Bank. This Appeal has been filed against the order dated 09.03.2022 passed by the Adjudicating Authority (National Company Law Tribunal) Kolkata Bench, Kolkata by which on an application under Section 95 Sub-section (1) filed by the IDBI Bank Ltd., the Adjudicating Authority has directed for appointment of Resolution Professional and called for report exercising all powers enumerated under Section 99 of the Code.
Learned counsel for the Appellant challenging the order contends that in the present case Appellant claims that in the Working Capital Consortium Committee Meeting held on 16.06.2017, the Appellant was discharged from its personal guarantee due to which application ought not to have been proceeded any further. Learned counsel for the IDBI Bank disputed this statement. Learned counsel for the Appellant further submitted that the claim is barred by time.
Present is a case where after filing an application under Section 95, Resolution Professional has been appointed and report has been called for. Learned counsel for the Appellant submits that report has already been submitted by the Resolution Professional. Even if Resolution Professional has submitted his report, it is open for the Appellant to give relevant materials to the Resolution Professional, which could not be submitted by the Appellant earlier, for consideration for the Resolution Professional to submit an additional report to the Adjudicating Authority. The application having not yet been admitted or rejected under Section 100 of the code, it is open for the Appellant to raise all her contentions at the time of admission or rejection of the application by the Adjudicating Authority.
We, thus, are of the view that ends of justice be served in disposing of this Appeal with aforesaid observations.