2021 (11) TMI 1044

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.... as noticed infra. Put in a nutshell, relevant background aspects of the matter are that in the corporate insolvency resolution process relating to the corporate debtor-Oswal Spinning and Weaving Mills Limited, liquidation order was passed as back as on 13.12.2019. The appellant before us is said to be a financial creditor of the corporate debtor, whose claim was accepted by the liquidator. It appears that while questioning the decision of the liquidator accepting the claim of appellant, respondent No. 1, a suspended director of the corporate debtor, filed IA No. 368 of 2020 wherein, the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench, Chandigarh), Hereinafter also referred to as 'the Tribunal' passed an ex parte o....

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....ting Authority having further adjourned the matter to 30.09.2021, the appellant filed another appeal, being Company Appeal (AT) (Insolvency) No. 575 of 2021. The Appellate Tribunal took note of the overall scenario as also the intermittent working of the Tribunal but indeed expressed anguish with regard to the delay in this matter. However, the Appellate Tribunal left the matter only with a request to the Tribunal to take out time and decide the IAs at the earliest. The Appellate Tribunal, inter alia, observed and expected as under: "4. On being asked, Learned Counsel submits that at Chandigarh Bench, Member (Judicial) has been posted but Member (Technical) has not been posted and another Judge who is Member (Technical) at Jaipur conduct....

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....n 11.10.2021 and again on 02.11.2021; and the matter is now fixed by the Adjudicating Authority for consideration on 12.01.2022. We are clearly of the view that in the given set of circumstances, the Appellate Tribunal, while reiterating its request to the Adjudicating Authority to decide the pending IAs at the earliest, ought not to have disposed of the appeal. Rather, the Appellate Tribunal could have kept the appeal pending, while awaiting compliance from the Adjudicating Authority and, if necessary compliance was not yet forthcoming, to withdraw the matter from the National Company Law Tribunal, Chandigarh Bench, Chandigarh and either to dispose of itself or transfer it to some other Bench of the Tribunal for necessary steps. In the....