2011 (1) TMI 1563

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....on, [Justice Anant Bijay Singh] Member (Judicial) And [Shreesha Merla] Member (Technical)   For the Appellant : Mr. Mritunjay Tiwary, Advocate.   For the Respondent : None ORDER (Through Virtual Mode) Upon proof of service of notice on Respondent, its appearance was awaited on the last date of hearing. Even today, nobody has turned up to defend the appeal on behalf o....

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....ection 8(1) of the 'I&B Code' is a sine-qua-non for initiation of Corporate Insolvency Resolution Process (CIRP) by Operational Creditor under Section 9 of the 'I&B Code'. Format in which the demand notice is to be issued by the Operational Creditor in terms of the 'Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016' is prescribed in Form-3. The delivery of notice is to ....

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.... purposes of initiation of CIRP. In view of the same, notice delivered could not be held to be bad in law unless it was shown that the lawyer was not duly instructed. It appears from para 10 of the impugned order that the Adjudicating Authority was aware of this legal proposition but in the opinion of the Adjudicating Authority there was no due authorization backed by Board Resolution of the Opera....

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....lf of his client i.e. operational creditor." 6. It is evident that the learned Adjudicating Authority had taken the correct view which is reflected in the aforesaid order. Judicial consistency would demand that the same view, which was based on the judgment of the Hon'ble Apex Court, should have been taken in the latter case as well. Once an Advocate was duly instructed to issue the demand noti....