TaxTMI 
TaxTMI 
2022 (3) TMI 332
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.... Sr. Counsel Mr. Vikram Nankani ORDER Per: Bench The present application filed on behalf of the Applicant under Section 60 (5) of I&B Code read with Section 425 of Companies Act, 2013 and Section 340 of Cr Pc. Brief facts: 1. The Present Application is filed to place on record grave fraud committed by the Resolution Professional, Mr. Neehal M. Pathan. The Applicant claimed that as per Section 13 of the IBC, public announcement was required to be made in terms of Regulation 6 of the CIRP Regulation. Regulation 6(2) read as follows: "(2) The public announcement referred to in sub-regulation (1) shall: (a) Be in Form A of the Schedule; (b) Be published- (i) In one English and one regional lang....
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.... and one regional language newspaper with wide circulation at the location of the registered office and principal office, if any, of the corporate debtor and any other location where in the opinion of the resolution professional, the corporate debtor conducts material business operations; (ii) on the website, if any, of the corporate debtor; (iii)on the website, if any, designated by the Board for the purpose; and (iv) In any other manner as may be decided by the committee. 4. The Applicant took inspection of IA No. 1850 of 2021 and pointed out that no such publication is annexed to the petition, but publication of Form G was made at Udaipur in Dainik Bhaskar. Further the Applicant stated that public announceme....
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....021 Expression of Interest Not published. Bogus copy submitted to the Tribunal 3. Dainik Bhaskar, Udaipur Edition. 30th May 2021. Expression of Interest Bogus copy submitted to Tribunal or some other edition it is published. 4. Dainik Bhaskar, Udaipur Edition. 29th May 2021 Expression of Interest Still under verification. 5. Prathakal Mumbai Expression of Interest Not verified yet. 6. Mid Day Expression of Interest Not verified yet 7. Free Press Journal Mumbai Public Announcement Verified Published 8. Navshakti Public Announcement Verified Published. 8. Therefore, the Applicant claimed that there is clear breach of the regulation which mandates publicatio....
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....That there is no English newspaper which is published in Udaipur although newspaper published elsewhere like Jaipur, Mumbai and New Delhi are circulated in Udaipur (paragraph 33 of the I.A.); (iv) That the averment in the Written Submissions that there was no publication in The Free Press Journal was made on the basis of inspection of the e-paper on the website and that it has only upon search of the physical publication on 29thDecember, 2021 at the newspaper office that it was confirmed that the publication was indeed made on 22nd April, 2021. There is absolutely no explanation why the inspection, now claimed to have been taken on 29thDecember, 2021, could not be done so earlier. It shows that the Applicant has treated the matter ....
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....rovide the documents which the RP sought to rely upon. They further submitted that any hearing which may be conducted without providing the Applicant herein the copy of the documents / newspapers etc., will be in breach of principles of natural justice and contrary to basic principles of law. 15. The Applicant submitted that it was found that there are two more bogus newspapers which produced by the RP, wherein no publication was made still submission was made. They report that the RP publish notice in Prathakal Mumbai edition on 23.04.2021 and Prathakal Mumbai edition of 30.05.2021 is also false and bogus. 16. The Applicant further stated that on 24.01.2022, the inspection was fixed by the Hon'ble Tribunal at 3:00 p.m. The Applicant ....