AI Structured Summary
Not yet generated for this judgment
Judgment
O R D E R
18.12.2024 : Heard Counsel for the Appellant.
Learned Counsel for the Appellant submits that on 10.12.2024 the Adjudicating Authority directed the Resolution Professional (RP) to take a decision within three days and direct the RP not to constitute the Committee of Creditors (CoC), in pursuance of which Order of 13.12.2024 the claim was admitted as submitted by Counsel for the Respondent Mr. Chadha and on 16.12.2024 the Adjudicating Authority noticing the admission of the claim issued certain direction.
Appellant’s grievance is that Order dated 16.12.2024 is not uploaded hence he is unable to challenge the Order as on date.
Learned Counsel Mr. Chadha appearing for the Respondent submits that CoC Meeting which was slated for today has already been held and with 100% vote share, decision has been taken to issue Form G.
It is submitted that in any event, the vote shares of Phoenix Arc Pvt. Ltd. as has been admitted is only 10.57% and the decision has been taken by the 100%.
Considering the aforesaid, we are of the view that it is open for the Appellant to challenge the subsequent Order 16.12.2024 by an appropriate Appeal and pray for such reliefs as may be permissible to the Appellant.
In view of the statement which has been made by Mr. Chadha Counsel appearing for Phoenix Arc Pvt. Ltd., we are of the view that no directions can be passed in this Appeal.
Learned Counsel for the Appellant submits that in view of the Order of this Tribunal delivered in Comp. App. (AT) (Ins.) No. 177/2019, the claim of Phoenix Arc Ltd. was held to be barred by time against which the Appeal has been filed in the Hon’ble Supreme Court but Notice has been issued but no Interim Order has been passed.
We are of the view that all the above issues can be flagged when the Order passed on 16.12.2024 is challenged by the Appellant. In the present Appeal the issues raised cannot be examined since the Order impugned was only to the effect that decision be taken by the RP within three days.
In view of the aforesaid, we are of the view that Appeal need to be closed with liberty above.
Learned Counsel for the Appellant added that the initial timeline which was issued, Form G was to be published by 18.01.2025 which has now been changed to 18.12.2024.
Appeal is dismissed with liberty aforesaid.