{"id":174644,"date":"2017-12-10T13:15:53","date_gmt":"2017-12-10T07:45:53","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=174644"},"modified":"2018-01-20T12:04:02","modified_gmt":"2018-01-20T06:34:02","slug":"appellant-investor-got-rights-file-appeal-insolvency-resolution-professional","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/10\/appellant-investor-got-rights-file-appeal-insolvency-resolution-professional\/","title":{"rendered":"Appellant Investor has got all the rights to file an appeal before ‘Insolvency Resolution Professional’"},"content":{"rendered":"

National Company Law Appellate Tribunal, New Delhi:<\/strong> The present appeal was filed against the impugned order of the adjudicating authority (National Company Law Tribunal).<\/p>\n

The brief facts being that the adjudicating authority, by way of an impugned order, rejected the prayer on the grounds that it does not have any power to dismiss the companys\u2019 petition after admission of the application under Section 9 of the Insolvency & Bankruptcy Code, for initiation of ‘Corporate Insolvency Resolution Process’. The impugned order was challenged in the current case.<\/p>\n

Having heard the learned counsel for the appellant, it is clear that the appellant was an investor, and therefore, cannot claim to be an ‘aggrieved person’, for preferring appeal against the impugned order. Furthermore, the order passed before the impugned order was not under challenge in the present appeal, hence the Appellate Tribunal cannot express any opinion with regard to the order of admission. The Tribunal held that the adjudicating authority was right in refusing to recall the earlier order as it had no power to review or recall. Therefore, in absence of any merit, the appeal was dismissed. However, the Tribunal specifically mentioned that the impugned order passed by the adjudicating authority, Mumbai and the order of the current adjudicating authority will not come in the way of the appellant investor to file its claim before the \u201cInsolvency Resolution Professional\u201d. [Anant Kajare v. Eknath Aher, 2017 SCC OnLine NCLAT 434<\/a>, decided on 30-11-2017]<\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Law Appellate Tribunal, New Delhi: The present appeal was filed against the impugned order of the adjudicating authority (National Company <\/p>\n","protected":false},"author":91,"featured_media":153604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[],"class_list":["post-174644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies"],"yoast_head":"\nAppellant Investor has got all the rights to file an appeal before 'Insolvency Resolution Professional' | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Upholding the NCLT's order, the Tribunal held that when the CoC's decision for liquidation is in accordance with IBC, then only NCLT's obligation to direct liquidation will arise.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":285311,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/25\/nclat-stays-order-nclt-corporate-insolvency-resolution-process-zee-entertainment-enterprise-ltd\/","url_meta":{"origin":174644,"position":1},"title":"NCLAT stays Insolvency proceeding against Zee Entertainment Enterprise Ltd","author":"Ritu","date":"February 25, 2023","format":false,"excerpt":"The NCLAT granted interim relief to Zee Entertainment Enterprises Ltd (ZEEL) by staying bankruptcy proceedings against them, after the NCLT admitted S. 7 application and directed the initiation of CIRP against the Corporate Debtor\/ZEEL.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":280176,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/21\/legal-update-legal-news-adjudicating-authority-either-approve-or-reject-resolution-plan\/","url_meta":{"origin":174644,"position":2},"title":"NCLAT | No provision for making any modification in the resolution plan; Adjudicating Authority can either approve or reject it","author":"Editor","date":"December 21, 2022","format":false,"excerpt":"National Company Law Appellate Tribunal held that there is no provision in Insolvency Bankruptcy Code, 2016 for alteration or modification in the resolution plan by the Adjudicating Authority","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":275467,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/10\/12\/whether-adjudicating-authority-is-competent-to-pass-order-under-section-66-of-ibc-during-subsistence-of-moratorium-under-section-14-of-ibc-nclat-answers\/","url_meta":{"origin":174644,"position":3},"title":"Whether Adjudicating Authority is competent to pass order under Section 66 of IBC during subsistence of moratorium under Section 14 of IBC? NCLAT answers","author":"Editor","date":"October 12, 2022","format":false,"excerpt":"\u00a0 \u00a0 National Company Law Appellate Tribunal : While deciding an issue as to whether the adjudicating authority is competent to pass an order under S. 66 of Insolvency and Bankruptcy Code, 2016 during the subsistence of moratorium under S. 14 of IBC, a 3-judge bench comprising of Ashok Bhushan,\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":285588,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/27\/corporate-insolvency-cirp-resolution-plan-not-approval-eligibility-of-the-resolution-applicant-appeal-last-opportunity-revival-of-corporate-debtor\/","url_meta":{"origin":174644,"position":4},"title":"NCLAT provides time-bound opportunity to Resolution Professional and CoC to revive Corporate Debtor","author":"Ritu","date":"February 27, 2023","format":false,"excerpt":"In a case related to rejection of Resolution Plan by the Adjudicating Authority, which was once approve the Adjudicating Authority, the Tribunal opined that the Adjudicating Authority was right on non-approval of the Resolution Plan as the Adjudicating Authority's order was not followed in its true spirit.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":280454,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/27\/nclat-no-liquidator-has-any-personal-rights-to-continue-in-liquidation-process-adjudicating-authority-can-order-for-replacement-of-liquidator\/","url_meta":{"origin":174644,"position":5},"title":"NCLAT | No Liquidator has any \u2018personal rights\u2019, to continue in Liquidation Process; Adjudicating Authority can order for replacement of Liquidator","author":"Editor","date":"December 27, 2022","format":false,"excerpt":"\u00a0 \u00a0 National Company Law Appellate Tribunal | The bench comprising of M. 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