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2018 (5) TMI 173 - AT - Insolvency and BankruptcyCorporate insolvency process - Authorization to file application - Held that:- We find that the Officers of the respective Banks have been authorised by the Competent Authority to file the application. Mr. Pallav Sangal is an Officer of the Standard Chartered Bank Limited, who has been authorised by the Chief Executive Officer of the Bank. The Chief Executive Officer has been authorised by the Standard Chartered Bank to authorise any person for taking action in accordance with law. Similarly, in the case of DBS Bank Limited, we find that Mr. Pankaj Jain has been authorised by the Board of Directors of the DBS Bank Limited. In view of the fact that the application has been filed by the authorised persons, we hold that both the applications on behalf of the ‘Financial Creditors’ were maintainable. In any case if one of the application is admitted, the ‘Corporate Insolvency Resolution Process’ starts. In such case, it is not necessary to admit the other application, who (2nd Applicant) is entitled to file claim before the ‘Resolution Professional’.
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