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2020 (3) TMI 1128 - Tri - Insolvency and BankruptcyMaintainability of Application - Initiation of CIRP - valid authorization - Despite reminders the corporate debtor failed to pay the outstanding dues and, therefore, the operational creditor was compelled to issue demand notice under section 8 of the I and B Code seeking payment of the outstanding amount - HELD THAT:- It is found that the petition is filed by one Ms. Sneha Ranade on the basis of resolution passed by the board of directors of the operational creditor company on June 24, 2015, i. e., much before the Insolvency and Bankruptcy Code, 2016 came into force - only an authorised person as distinct from a power of attorney holder can make an application under sections 7, 9 and 10 and required to state his position in relation to the financial creditor. Palogix Infrastructure P. Ltd. v. ICICI Bank Ltd. [2017 (10) TMI 913 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI], speaks about the specific authorisation but in this case, the authorisation is of the year 2015, when the Code was not in existence. Hence, the question of any specific authorisation does not arise at all, otherwise also the resolution does not disclose any power to file application before the National Company Law Tribunal and/or any Tribunal - It is pertinent to mention here that during the course of hearing the learned lawyer appearing on behalf of the respondent submitted that the respondent has made part payment and trying to enter with an agreement to which the petitioner has denied. The application is not maintainable on the ground of proper authorisation itself which is of the year 2015 when the IB Code was not in existence - Application dismissed.
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