Appeal challenging Impugned Order dismissed by Tribunal, matter referred to Committee of Creditors.

The Tribunal dismissed the Appeal challenging the Impugned Order, upholding the Adjudicating Authority's decision to close the Application related to the Corporate Insolvency Resolution Process. The delay in filing the Appeal was condoned due to logistical reasons, emphasizing the importance of justice. The Tribunal found the Appeal lacking in merit and declined to entertain it, directing the matter to be decided by the Committee of Creditors. No costs were imposed in the dismissal of the Appeal.

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Issues Involved: Condonation of Delay Application, Impugned Order Challenge

Condonation of Delay Application:
The delay of 14 days in preferring the Appeal was explained by the Appellant due to logistical reasons involving the Appellant's Manager being based in Hyderabad and the Counsel in Calcutta, necessitating time for document transfer. The Tribunal, satisfied with the reasons presented, condoned the delay in a generous manner, emphasizing the importance of justice without imposing costs.

Impugned Order Challenge:
The Appellant challenged the Impugned Order dated 20.03.2023 passed by the Adjudicating Authority, which closed the Application with liberty to agitate before the appropriate forum. The Appellant contended that the order was illegal, referring to the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor and the outstanding amounts payable. The Respondent, representing the Resolution Professional, argued that the Impugned Order was fair and valid, as the Appellant had already made a claim for CIRP expenses. After hearing both parties, the Tribunal upheld the Adjudicating Authority's decision, stating that the matter should be decided by the Committee of Creditors and declined to entertain the Appeal, finding it lacking in merit.

In conclusion, the Appeal was dismissed as lacking merit, with no costs imposed, and the connected application was closed.

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