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Judgment
Heard learned counsel for the Appellant as well as learned counsel for the Resolution Professional. Learned counsel for the Appellant submits that other respondents are members of the CoC who are only Proforma Respondents. With the consent of the parties, we have heard the appeal finally.
This appeal has been filed against the order dated 07.12.2022, which order has been passed in I.A. No.120 of 2021. The Adjudicating Authority by the said order directed the members of the CoC to deposit Rs.20,000/- each in the Prime Minister National Relief Fund. Reason for such direction is that the Adjudicating Authority has directed the members of the CoC to appear in person by order dated 24.11.2023, on the next date except counsel for one member of CoC, no other CoC members appeared. Hence, the Adjudicating Authority directed for payment of penalty.
Learned counsel for the Appellant submits that the other members of the CoC were present virtually and there was no intent of disobedience of order of the Court and there was no occasion for imposing penalty of Rs.20,000/-. Learned counsel for the parties further submitted that now next date has been fixed in the matter is 22.01.2024.
Learned counsel for the Appellant as well as other learned counsel appearing for Respondents who are members of CoC have undertaken that on next dated i.e. 22.01.2024 all the members shall appear through counsels virtually. It is also submitted that the member of the CoC shall also be virtually present in addition to their counsels.
In view of the aforesaid undertaking, we are of the view that direction for imposition of penalty of Rs.20,000/- deserve to be deleted and is hereby deleted. Let all the members of the CoC appear virtually before the Adjudicating Authority on the next date i.e. 22.01.2024, as undertaken. Appeal is disposed of accordingly.