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2022 (4) TMI 999 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Personal Guarantors to Corporate Debtor - existence of debt and dispute or not - Lack of proper documents - HELD THAT:- It is pertinent to mention that as per Annexure "A" the Applicant (Financial Creditor) has executed a Power of Attorney in the name of Mr. Dashrath Pandurang Sadaye to appear and to cause any proceeding against any person, firm, society, company, corporation, association or body corporate for adjudication as insolvent or bankrupt or for winding up. However, the Letter of Authority dated 10/12/2020 authorising Mr. Sudhir Kumar Senapati, Advocate to act on behalf of the Financial Creditor has been signed by one Mr. R.L. Chauhan, Deputy General Manager, SAMB. Kolkata. It is not clear as to who is the Authorized Representative for the Financial Creditor. The affidavit filed in support of the CP(IB)/46(KB)2021 is signed by Mr. Dashrath Pandurang Sadaye, whereas the authorization given to the Ld. Counsel is by another person. Hence, this Petition lacks proper authorisation from the Financial Creditor. Since the Application is incomplete, the Resolution Professionals' Report in this matter at this stage, need not be called for. In taking the decision, the fact is also noted that the Interim Moratorium in case of section 95 application kicks in from the date of the filing of the application. It should not appear that an incomplete application can also ensure that the interim moratorium should kick in from the date of filing, else wrong signals could be sent out to others. Petition dismissed.
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