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2017 (11) TMI 841 - NATIONAL COMPANY LAW APPELLATE TRIBUNALCorporate insolvency procedure - 'Power of Attorney Holder' as given power of attorney prior to enactment of 'I&B Code', entitlement to file an application under Section 7 or 9 or 10 of the 'I&B Code - admission of application under Section 7 - appointment of Interim Resolution Professional - Held that:- In the present case, the appellant has enclosed the so-called “Power of Attorney” of the Punjab National Bank like ICICI Bank. As noticed in the case of Palogix Infrastructure Private Limited [2017 (10) TMI 913 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] in the present case also we find that by an instrument dated 5th November, 2015 the committee of Board of Directors empowered an officer of the Bank and delegated him power to move before a Court on behalf of the Bank, with power to do everything requisite for the purpose mentioned therein, including borrowing money from the Reserve Bank of India and financial institutions of big authorities in India and also to appear and take action on behalf of the Bank in any Court of original jurisdiction, court of appeal, revision, civil, criminal, revenue courts, tribunals and office/offices and to engage counsel on behalf of the Bank for such courts, tribunal and offices. In view of the aforesaid Board’s Resolution by letter dated 28th March, 2017 the Chief Manager, Branch Head, MCB Hisar was authorised to file petition before the Adjudicating Authority under Section 7 of the I & B Code and named the IRP for appointment. From the application filed under Section 7 in Form 1 filed by the respondent – Financial Creditor we find that the authorised officer of the Bank has signed the document. In the aforesaid circumstances, as the case in hand is covered by the decision of this Appellate Tribunal in Palogix Infrastructure Private Limited (Supra) and as the Senior Manager of the Bank has filed the application under Section 7, we find no ground to interfere with the impugned order.
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