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2019 (4) TMI 1926 - Tri - Insolvency and BankruptcyImpleadment of the applicants in the pending application filed under 7 of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The directors who have filed the impleadment application cannot be regarded as a third party as they are part and parcel of the financial creditor. Once, the resolution dated 18.12.2018 itself is under challenge and which constituted the basis of filing petition under Section 7 of the Code namely (IB)-377(PB)/2019 then the issue has to be decided with regard to the competence of filing of the instant petition. It is needless to emphasise that in the corporate sector the whole affair of a company are run on the basis of resolution passed. The applicant are permitted to intervene in the matter and address arguments at the time of admission without permitting them to join as a party - application disposed off.
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