2017 (11) TMI 1896

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....opadhaya, Chairperson And Bansi Lal Bhat, Judicial Member Rajeev Mehra, Sr. Advocate, Ashish Rana and Surekh Baxy, Advocates for the Appellant. Dr. U.K. Chaudhary, Sr. Advocate, Himanshu Vij, Ms. Manisha and Sarvesh Kashyap, Advocate for the Respondent. ORDER 1. In the present case, on hearing the counsel for the parties, we are of the opinion that it is not the stage for deciding the ....

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....ber in the Committee of Creditors, in view of such objection, the appellant-Exim Bank preferred Company Appeal (AT) (Insolvency) No. 188 of 2017, wherein the following order as passed by this Appellate Tribunal on 18th September, 2017 : "3. Having heard learned counsel for the 'Corporate Debtor' and Mr. Rajeev Mehra, Senior Advocate appearing on behalf of the respondent, while we ....

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....ed that the Adjudicating Authority will decide the question of continuity of 'Exim Bank' as a member of the Committee of Creditors either way and will not continue with interim arrangement for days together. An early decision be taken on production of copy of this order." 4. After the matter was remitted to the Adjudicating Authority, the issue was not decided by the Adjudicating Author....

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....ating Authority, which cannot abdicate its power by asking other authority to decide the question. However, it is always open to the Adjudicating Authority to take opinion from the Resolution Professional or the Committee of Creditors. 6. For the reasons aforesaid, while we observe that the report, if any, filed by the Resolution Professional or the Committee of Creditors is not binding on the ....