2017 (12) TMI 651

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....pellant : Ankit Singal with Mr Aditya Khamparia, Advocates For The Respondents : Mr. Aslam Ahmed with Ms Shraddha Chaudhri ORDER The petition for substitution has been filed by Mr. Sumeet Ahuja, Director for impleading him as appellant. Learned counsel for the appellant further prays to transpose M/s Paramshakti Steels Ltd through Interim Resolution Professional as the second respondent. ....

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.... appointed Interim Resolution Professional (IRP). 2. The main plea taken by the Learned counsel for the appellant is that the application under Section 7 of the I&B Code has been filed by the Power of Attorney holder which according him is not permissible. 3. The 1st respondent has refuted such allegations as the application has been filed by the 'authorised person' namely the Deputy General....

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....ial Creditor'/'Operational Creditor'/'Corporate Applicant' in favour of its officer, which can be delegated even by designation. In such case, officer delegated with power can claim to be the 'Authorized Representative' for the purpose of filing any application under section 7 or Section 9 or Section 10 of 'I&B Code'. 37. As per Entry 5 & 6 (Part I) of Form No.1, 'Authorised Representativ....

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....ea is taken by the authorised officer that he was authorised to sanction loan and had done so, the application under section 7 cannot be rejected on the ground that no separate specific authorization letter has been issued by the 'Financial Creditor' in favour of such officer designate." 5. As noticed, in the present case the application under Section 7 has been filed by the Deputy General Mana....