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2024 (1) TMI 40 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHISeeking direction to the IRP to admit their claim in full - Seeking not to treated as a related party of the Corporate Debtor - assignment of voting rights in respect of Corporate Insolvency Resolution Process - HELD THAT:- The Adjudicating Authority has committed a patent error in holding that a related party has a right to join the meeting of the CoC - Adjudicating Authority has further erred in observing that the Appellant did not refer to a specific sub clause of Section 5(24) of the Code whereas it has in fact referred to Clause 5(24)(m) and also gave the detail of the name of the directors by way of a chart which also forms part of Para 11 of the impugned order but still there has been no finding in this regard. Further, the Adjudicating Authority has erred in making specific observation that no material has been brought on record except general observations given by the RP on the basis of the order of SAT whereas the Appellant has produced on record a detailed summary which has been prepared on the basis of MCA Data which though has been reproduced in the impugned order from pages 89 to 111 but it has not been referred to in the discussion part where it has been rather held that no material has been produced except for the order of the SAT - The argument raised by the Respondent that every provision of Section 5(24) has its own effect and impact which has to be assessed on the basis of the evidence may be attractive but even that part has not been seen by the Adjudicating Authority while passing the impugned order. This is a fit case for allowing the appeal for the purpose of its remand to the Adjudicating Authority to decide it afresh after take into consideration the entire evidence brought on record by the Appellant and Respondent and then passing a speaking order - matter is remanded back to the Adjudicating Authority to decide it again by recording specific findings on the basis of material which has been brought on record - appeal allowed by way of remand.
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