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2017 (11) TMI 1896 - AT - Insolvency and BankruptcyMaintainability of appeal - appropriate forum or not - CIRP process - HELD THAT:- After initiation of the 'Corporate Insolvency Resolution Process', the Resolution Professional objected the applicant-Export Import Bank of India ('Exim Bank' for short). While the appellant requested to allow it to continue as a member in the Committee of Creditors, in view of such objection, the appellant-Exim Bank preferred Company Appeal - After the matter was remitted to the Adjudicating Authority, the issue was not decided by the Adjudicating Authority in terms with the order of the Appellate Tribunal and the Adjudicating Authority remitted the matter to the Resolution Professional and Committee of Creditors to decide the application of the appellant, which was supposed to be decided by the Adjudicating Authority. For the said reason, the appellant-Exim Bank has challenged the order dated 27th October, 2017 whereby the Resolution Professional and Committee of Creditors have been asked to take collective decision. Thus, the final decision in terms of the order of this Appellate Tribunal dated 18th September, 2017 is to be taken by the Adjudicating Authority, which cannot abdicate its power by asking other authority to decide the question - the Adjudicating Authority is directed to decide the question as ordered by this Appellate Tribunal on 18th September, 2017 about the continuity of the Exim Bank as a member of the Committee of Creditors, immediately, preferably within three weeks, uninfluenced by the opinion if any submitted by the Resolution Professional and the Committee of Creditors.
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