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2020 (3) TMI 1128

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..... ptcy Code, 2016 came into force - only an authorised person as distinct from a power of attorney holder can make an application under sections 7, 9 and 10 and required to state his position in relation to the financial creditor. Palogix Infrastructure P. Ltd. v. ICICI Bank Ltd. [2017 (10) TMI 913 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI], speaks about the specific authorisation but in this case, the authorisation is of the year 2015, when the Code was not in existence. Hence, the question of any specific authorisation does not arise at all, otherwise also the resolution does not disclose any power to file application before the National Company Law Tribunal and/or any Tribunal - It is pertinent to mention here that during the co .....

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..... J1998PLC034128 having its registered office at Gotri, Vadodara, Gujarat State. The authorised share capital of the respondent-company is ₹ 7,50,00,000 and paid-up share capital is Rs, 4,87,45,550. That, the respondent-company is engaged in business activity of fabrication and erection of large storage tanks, pressure vessels, silos and small poised spherical vessels. 4. The applicant/petitioner has submitted that in the year 2016 the corporate debtor approached the operational creditor for design engineering, supply, installation, testing and commissioning of cathodic protection system for six tanks at the Bharat Oman Refineries Ltd., BINA Site for its business activity. That, aforesaid goods were to be delivered at the premises of th .....

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..... 2016 came into force. 11. In this context, it is desirable to refer to the decision of Palogix Infrastructure P. Ltd. v. ICICI Bank Ltd. [2018] 1 Comp Cas-OL 140 (NCLAT) which is reproduced below (page 149) : "The I and B Code is a complete code by itself. The provision of the Power of Attorney Act, 1882 cannot override the specific provision of a statute which requires that a particular act should be done by a per son in the manner as prescribed thereunder." Thus, only an authorised person as distinct from a power of attorney holder can make an application under sections 7, 9 and 10 and required to state his position in relation to the financial creditor. 12. It is mentioned that Palogix Infrastructure P. Ltd. v. ICICI Bank Ltd. .....

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