TMI Blog2019 (10) TMI 1352X X X X Extracts X X X X X X X X Extracts X X X X ..... ere is nothing on the record to suggest that a prima facie opinion was formed by the Adjudicating Authority about the allegation levelled against the Appellant and without giving opportunity to the Appellants/ Directors to explain such allegation. The impugned order was passed in violation of Rules of Natural Justice. The procedure as prescribed under Section 424 of the Companies Act, 2013 was not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ary and Mr. Ratnesh Sharma, For Respondents: - Mr. Vikas Mehta, Mr. Apoorv Khator and Mr. Mithun Shashank, Ms. Jatsala Rai and Mr. Raghav Chadha, ORDER 'M/s. Educomp Infrastructure School Management Limited' ('Corporate Applicant') filed application under Section 10 of the Insolvency and Bankruptcy Code, 2016 ( I B Code for short) for its 'Corporate Insolvenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the 'Committee of Creditors' and is pending consideration before the Adjudicating Authority for order under Section 31 of the 'I B Code'. 4. Learned counsel for the Appellants submits that the impugned order has been passed in violation of Rules of Natural Justice. Neither prima facie charges were framed nor any hearing was given to the Appellant. He referred to the decision of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was no occasion to prepare the Information Memorandum or to call for Expression of Interest or filing of a 'Resolution Plan' which have been followed in the present case. If it is alleged that no co-operation was made by the Promoters and Director, how Information Memorandum was issued for filing 'Resolution Plans'. The Adjudicating Authority has failed to discuss the aforesaid f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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