AI Structured Summary
Not yet generated for this judgment
Judgment
O R D E R
23.09.2022: I.A. No. 3424 of 2022 – This application has been filed for condonation of 11 days delay in filing the appeal. Sufficient cause has been shown to condone the delay in filing the appeal. 11 days delay is condoned.
This appeal has filed under Section 61 of Insolvency & Bankruptcy Code, 2016 challenging the order dated 09.05.2022 in CP (IB)-449 (PB)/2019 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Principal Bench).
Learned Counsel for the Appellant submits that an appeal was filed against the same order, this Appellate Tribunal passed in Company Appeal (AT) (Ins.) No. 723 of 2022 in Punjab National Bank & Ors. Vs. Piyush Colonisers Ltd., which was dismissed by this Appellate Tribunal vide its order dated 05.07.2022.
Learned Counsel for the Appellant has cited the judgement passed by this tribunal in Punjab National Bank & Ors. Vs. Piyush Colonisers Ltd. which permits the Appellant to take recourse of Section 27 and in event, the CoC with requisite majority resolve that Mr. Ashish Singh is not eligible, decision can be taken to replace Mr. Ashish Singh with another Resolution Professional.
Hence, the appeal is disposed of in terms of the order passed by this Appellate Tribunal in Company Appeal (AT) (Ins.) No. 723 of 2022.