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2022 (6) TMI 10 - AT - Insolvency and BankruptcyCIRP - Company/ corporate debtor under liquidation - non-receipt of limited notice or receipt of defective limited notice - whether the Order of the Adjudicating Authority has to be set aside on the ground that limited Notice under Section 95(1) of the Code was not issued to the Personal Guarantor seeking his appearance? - whether the Demand Notice issued by the Respondent Bank is defective? - HELD THAT:- It is the main case of the Appellant that the limited Notice contemplated under Section 95(1) of the Code was never served upon them. The material on record shows that the Personal Guarantor was represented on that date and therefore it cannot be said that the Appellant was not aware of the proceedings. The object behind the issuance of the limited Notice to the Personal Guarantor is to appear before the Adjudicating Authority following the Principle of Natural Justice. The documentary evidence on record establishes that the Demand Notice dated 06/10/2021 was received by the Appellant on 12/10/2021. It is the contention of the Learned Counsel for the Appellant that this Demand Notice, though received by them was sans the annexures and therefore is a defective one. The same was communicated to the Respondent Bank on 24/10/2021 and the Bank had once again sent another copy on 24/11/2021. The ratio laid down by this Tribunal in Chandresh Jajoo Vs. Siemens Financial Services Pvt. Ltd. & Anr. [2022 (5) TMI 1364 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI], is squarely applicable to the facts of this case wherein it is observed that ‘there was no reason to direct for issuance of any limited Notice to the Appellant as he was aware of the proceedings’. Morever the stage of admission of the Application has not yet come and at that stage, the Appellant can raise all the objections before the Adjudicating Authority opposing the admission of the said Application. Needless to add, the Adjudicating Authority will consider the pleas and pass Orders under Section 100 in accordance with law. Last contention of the Learned Counsel for the Appellant is that Section 95 Application cannot be adjudicated by Bench No. III of the NCLT since the Liquidation Proceedings of the ‘Corporate Debtor’ was Pending before Bench No. VI of the NCLT. It is not understood as to why the Appellant has not brought the same to the Notice of the Bench or exercise his right by filing an Application before the Principal Bench under Rule 16 of the NCLT Rules, 2016. Appeal dismissed.
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