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2023 (2) TMI 1046 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHISeeking intervention of petition - Adjudicating Authority by way of the impugned order, without even issuing notice or considering the issue of fraud, erroneously dismissed the application for intervention filed by the Appellants - HELD THAT:- The application under Section 7 by a Financial Creditor against the Corporate Debtor was pending for consideration and for admission and in the meanwhile, the Appellants are seeking intervention, not on the ground that the Corporate Debtor defaulted in payment of amounts to them, but, on the ground that the Company Petition filed by the Central Bank of India, the Respondent No. 2 herein was not for legitimate reasons but it is a malicious prosecution that falls under Section 65 of the IBC. The Appellants have been ostensibly setup by the Respondent No. 1 Company for the purpose of derailing the lawful action of the Respondent Bank under Section 7 of the IBC - there are no merit in the Appeal to interfere with the order impugned passed by the Adjudicating Authority - appeal dismissed.
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