TMI Blog2022 (5) TMI 1364X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the Application, the Appellant can raise all the objections before the Adjudicating Authority opposing the admission of the Application. It is for the Adjudicating Authority to consider the pleas of both the parties and pass appropriate order as contemplated under Section 100 of the Code. Learned Counsel for the Appellant seeks liberty to submit representation before the Resolution Professional with regard to the facts of the Appellant s case. It is open for the Appellant to give Application/ Representation to the Resolution Professional within one week from today. Appeal disposed off. - Comp. App. (AT) (Insolvency) No. 284 of 2022 - - - Dated:- 22-3-2022 - Justice Ashok Bhushan, Chairperson Dr. Alok Srivastava, Member Techn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Mr. Ravi Ajit Kulkarni vs. State Bank of India- Company Appeal (AT) (Ins.) No. 316 of 2021 . Paras 24 and 44 of the judgment are to the following effect:- 24. Section 95(5) requires the Creditor to provide copy of the application under sub-section (1) to the Debtor. This section needs to be read with Rule 3(1)(g) reproduced above. It is evident from reading the Section alongwith the Rule that what Creditor has to serve is copy of the application made under sub-section (1) to the Debtor. Reading Rule 7(2) with Rule 3 shows that the application filed under sub-section (1) of Section 95 shall be submitted in Form C‟ and that the Creditor will serve forthwith a copy of the application to the Guarantor and the Corporate Debto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eady in the above judgment in para 44 has observed that a Corporate Debtor is entitled for limited notice by the Adjudicating Authority before stage for admission or rejection comes. 8. In the present case, the Appellant has been served copy of the Application under Section 95(1) as per the requirements of the statute and since the Appellant was well aware of the date and appeared on the date before the Adjudicating Authority, we see no reason to direct for issue of any limited notice to the Appellant, he being aware of the proceedings. The stage of admission or rejection of the Application has not yet arrived and at the stage of admission or rejection of the Application, the Appellant can raise all the objections before the Adjudicating ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
