TMI Blog2020 (10) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... pany Law Board and other such judicial/quasi-judicial bodies/offices, institutes suit or appeals.. Therefore, this IBA has seen filed by the Assistant Vice President of the Financial Creditor who is the Power of Attorney Holder of the Financial Creditor. This Tribunal is of the opinion that no specific authorization is required to file the instant IB case - Dated the 24th day of September, 2020. - I.A No.105/KOB/2020 in IBA/25/KOB/2020 - - - Dated:- 24-9-2020 - Shri Ashok Kumar Borah , Member ( Judicial ) For the Applicants : Adv. Jithin Saji Isaac For the Respondents : Adv. Leo George ORDER This IA has been filed by the Applicant who is Corporate Debtor in IBA/25/KOB/2020 raising the maintainability of the IBA, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion/petition under the IBC, 2016. No authorization whatsoever has been granted by the Financial Creditor in the Power of Attorney as filed and given to Smt. Maya C. The pre-requisites under the IBC are mandatory and requires to be complied with strictly. In the absence of a specific authorization, the application cannot be entertained by this Bench. Hence the Corporate Debtor prayed that the application filed by the Financial Creditor as IBA/25/KOB/2020 is to be dismissed at the threshold. Submission made by the Respondent herein/Financial Creditor 5. The Respondent/Financial Creditor submitted that the Power of Attorney Holder has also been authorized by the Financial Creditor to appear before any Judicial or Quasi-Judicial body ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t case is different from the facts of the case law submitted by the Applicant. 7. In this application the Financial Creditor themselves presented the application through their Principal Officer Smt. Maya C. (Assistant Vice President Br.Head). The learned counsel has referred to paragraph 16 of the Power of Attorney in which it is mentioned that: - 16. To appear before any judicial or quasi-judicial body including any Court of Law, Forum, Tribunal, Arbitrator and Banking Ombudsman, represent the Bank and act as Presenting Officers before Debt Recovery Tribunals/Debt Recovery Appellate Tribunals/Company Law Board and other such judicial/quasi-judicial bodies/offices, institutes suits or appeal as or applications or other proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, this IBA has seen filed by the Assistant Vice President of the Financial Creditor who is the Power of Attorney Holder of the Financial Creditor. I have also gone through the decision of Hon ble NCLAT as cited above. From a reading of the same, it is seen that in paragraph 41 of the said order it is stated as under: 41. In so far as, the present case is concerned, the Financial Creditor -Bank has pleaded that by Board's Resolutions dated 30th May, 2002 and 30th October, 2009, the Bank authorised its officers to do needful in the legal proceedings by and against the Bank. If general authorisation is made by any Financial Creditor or Operational Creditor or Corporate Applicant in favour of its officers to do needful in legal ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
