2022 (11) TMI 568

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....Avijit Patnaik, Mr. Bidesh Ranjan Behera , Mr. Amer Vaid , Advocates JUDGEMENT Ashok Bhushan , J : 1. This Appeal by the Corporate Debtor has been filed against the Order dated 02nd August, 2022 passed by the National Company Law Tribunal, Cuttack Bench, Cuttack (hereinafter referred to as "The Adjudicating Authority"). By which Order, I.A. (IB) No. 25/CB/2022 in CP(IB) No. 62/CB/2021 filed by the Corporate Debtor seeking initiation of appropriate proceedings and imposition upon the Operational Creditor under Section 65 & 76 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "The Code") has been dismissed. 2. In this Appeal, the Appellant challenges the Order passed by the Adjudicating Authority in I.A. No. ....

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....ribunal in "Committee of Creditors of Amtek Auto Ltd. through Corporation Bank Vs. Mr. Dinkar T. Venkatasubramanian and Ors. [2019 SCC OnLine NCLAT 449]". 5. We have considered the submissions of Learned Counsel for the Appellant and have perused the record. 6. This Tribunal in the matter of "Committee of Creditors of Amtek Auto Ltd." had occasion to consider Section 74 and has categorically held that the Adjudicating Authority is empowered to refer the matter to IBBI or the Government of India to take up the matter, if any case of offence under Section 74 (3) of Chapter VII of Part-II is made out. In paragraph 46,47 and 48 of the Judgement, following is laid down: "46. From sub-section (2) of Section 236, it is clear that no....

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....observations of the Adjudicating Authority to the extent that the Adjudicating Authority has no role in implementing the penal provisions in the Code. Limited role which can be performed by the Adjudicating Authority is to make a reference if there are allegations which need consideration by IBBI or Central Government for purpose of filing a complaint. 9. We thus to the above extent observe and clarify that the Statement made in paragraph 2 of the Impugned Order does not lay down the correct law. We have by our separate order passed in Company Appeal (AT) Ins. No. 1315 of 2022 on 11.11.2022 dismissed the Appeal filed by the Operational Creditor challenging the Order dated 2nd August, 2022 rejecting the Section 9 Application filed by the ....