2019 (4) TMI 1926

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...., Member (T) For the Appellant : Virender Ganda, Sr. Adv., Vipul Ganda, Ayandeb Mitra and Shreya Jain, Advs. ORDER CA-654(PB)/2019 : - This is an application with a prayer for impleadment of the applicants (who are the directors in the company - Financial Creditor) in the pending application filed under 7 of Insolvency and Bankruptcy Code, 2016. The names of the six directors-applicant....

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.... the Board of directors is under challenge at the instance of majority of the directors (as noted in the opening para) then filing of the petition would itself be questionable and such a petition would not be maintainable. According to the learned counsel, this is an extra ordinary circumstance for allowing the prayer made in this application. However, Mr. Ganda, learned senior counsel for the ....

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....d observations and directions. No cost." According to the Mr. Ganda, learned senior counsel, the aforesaid principle has again been emphasised in para 8 & 9 of the judgment rendered in the case of Axis Bank Ltd. v. Lotus Three Developments Ltd. & Ors. (Company Appeal (AT) (Insolvency) No. 246 of 2018 decided on 31.07.2018). Having heard learned counsel for the parties and perusing the materi....