TaxTMI 
TaxTMI 
TaxTMI 
2021 (6) TMI 902
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....Order dated 1st February, 2021 in I.A.-5641/ND/2020 in CP (IB)-1491(ND)/2019 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court -II). 2. The Appellant had arrayed more Respondents but vide Order dated 24.02.2021 of this Tribunal Notice was issued only to Respondent No. 2- Akshay Kumar Soni-the Financial Creditor who had moved the Application under Section 7 of Insolvency and Bankruptcy Code, 2016 (IBC in short) which had come to be admitted. Thus, now there is only one Respondent. 3. The Appeal has been filed claiming that by the Impugned Order the Adjudicating Authority did not allow exclusion of 322 days as was prayed by the Appellant who was IRP and allowed only 97 days in view of the Covid-19 P....
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....51) at 15:51 hours on 15th December, 2020 and informed that searching the website of NCLT he has come to know about such Order dated 30th January, 2020. He asked the Learned Counsel for Respondent-Financial Creditor if he had knowledge of the Admission of CIRP. Learned Counsel pointed out (Annexure A-5, Page 52) the e-mail dated 15th December, 2020 itself from Advocate of the Financial Creditor which e-mail reads as under: "Dear Sir, I am surprised to have found the information from your mail itself about any such order dated 31.1.2020 having been passed, as I have been regularly checking the website many a times even after the order was reserved, but I could not find the order and neither the registry has ever informed or sent any mail f....
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....irections to the Registry of Adjudicating Authority to communicate the Order of Admission to the IRP and other Parties. The Learned Counsel submits that in such background, the Adjudicating Authority passed uncalled for observations and reference as in Paragraph 24 of the Impugned Order. 7. The Admission Order (Annexure A-2 Colly, Page 38) shows that Financial Creditor Akshay Kumar Soni had filed the Application under Section 7 of IBC against M/s. Value Infraestate India Pvt. Ltd. In this Order Para 13 of the Order shows that the Adjudicating Authority itself had directed that the Admission order be communicated to the Petitioner, the Respondent and the IRP mentioned in the Order. Paragraph 13 of Annexure A-2 admission Order reads as under....
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....pronouncement i.e., on 31.01.2020, it is deemed to have been communicated to all the parties. Therefore, the plea that the parties had no knowledge about the order dated 30.01.2020 does not merit any consideration. Further, the IP, who admittedly (para 11 supra) pursuant to the Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, had given his consent dated 17.12.2020 in the Form-2 to act as Interim Resolution Professional (IRP) in the present matter was obligated to keep a track of the status of the case, for which he had given the express consent. We are also surprised to note the complete ignorance on the part of the Financial Creditor (or his Counsel) who, this being the Petition filed under Secti....
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....r. Kumud Shekhar (IBBI/IPA-003/IP-N00206/2018-19/12358), in terms of not initiating the CIR Process of the Corporate Debtor M/s. Value Infraestate India Pvt. Ltd. till 16.12.2020, we are constrained to refer the matter to the Insolvency and Bankruptcy Board of India (IBBI) for needful action. 25. Let a copy of this order be sent by the Registrar NCLT to the IBBI in the context of the observations made in the para 24 above." 11. Having gone through the matter and the Impugned Order, as well as the e-mails referred, it appears that in present times of various modes of communication available there has been a communication gap. Section 7 (7) of IBC required the Adjudicating Authority to communicate Order of Admission to Financial Creditor....
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....der on website, rather than finding if or not the Order was actually communicated to parties and IRP. Admission Order para 11 even mentioned e-mail address of IRP. Communication could have been sent even on e-mail. 12. The Learned Counsel for the Appellant referring to these paragraphs submits that the Registry of the Adjudicating Authority merely relied on the uploading of the Order on the website of the Tribunal and did not take a stand that the Order was actually informed to the IRP or Financial Creditor. In the facts of the matter, although one would expect Financial Creditor who filed the Application under Section 7 of IBC to follow up it appears to us that there can be no assuming knowledge as far as IRP who was the creation in the I....