Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2023 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (1) TMI 255 - AT - Insolvency and BankruptcyJurisdiction of Adjudicating Authority, while hearing any Application under Insolvency and Bankruptcy Code, 2016 - initiation of roving and fishing enquiry - It is submitted that the Adjudicating Authority had no jurisdiction to ask for materials and documents as has been enumerated in the Order impugned - Section 424(2) of the Companies Act, 2013 - HELD THAT:- The Adjudicating Authority had ample jurisdiction to ask for documents from Applicant/Appellant as well as the Resolution Professional for determination of the issues raised. The Order of the Adjudicating Authority indicate the doubts regarding the claim of the Applicant especially when claim totaled Rs. 12893,39,03,000/- arising out of three assignment deeds which were allegedly short-stamped. In the present case, we are not required to express any opinion with regard to the merits of the claim of the Appellant especially when I.A. No. 203/JPR/2022 filed by the Appellant is pending consideration and the Direction in the I.A. No. 203/JPR/2022 seeking various documents were with the object of examining the veracity of the claim. In so far as the direction of the personal appearance of the directors of the Appellant is concerned, which direction related to appearance on the next date of hearing and the next date having already over and Appellant having also appeared and participated in the proceeding, there is no necessity to examine the correctness of the direction for personal appearance. In pursuance of the Impugned Order, it appears that several documents have been provided for, we see no reason to keep this Appeal pending, we only observe that in event with regard to any particular documents, there is any difficulty faced by the Appellant/Applicant, it is always open for the Applicant/Appellant to file an appropriate application seeking exemption giving reasons for not producing the particular document which Application may be considered by the Adjudicating Authority and appropriate order be placed therein to prosecute the proceedings further. The Adjudicating Authority having jurisdiction to ask for documents and doubts having been expressed by the Adjudicating Authority with regard to the claim of the Appellant, and the Application I.A. No. 203/JPR/2022 being still pending for consideration, we see no reason to entertain this Appeal, at this stage where the proceeding has further proceeded, documents submitted, report filed. Appeal dismissed.
|