TaxTMI 
TaxTMI 
2023 (1) TMI 1053
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....oth these Appeals arise out of the common facts and are preferred by the same Appellant, they are being disposed of by this common Order. 2. For ready reference, the Impugned Order dated 27.02.2020 is reproduced as hereunder: "The prayer inter alia is for modifying order dated 23th July, 2019 passed in CP No. IB 1702 of 2019. During the course of hearing it has been noted that the applicant has filed one CA which was wrongly listed under Section 7 of IBC, 2016, in the said CA the prayer was made for setting aside the order dated 10.12.2018 on the ground of stating wrong facts before this adjudicating Authority. It is recalled that an application under Section 10 of IBC was filed by Prem Sons Super Steel Pvt. Ltd., supported with special resolution, which was admitted by this Authority, and CIRP was initiated, Moratorium was declared and IRP was appointed. The CIR Process has already been completed and as per the submissions made by the counsel for the applicant the application seeking liquidation order is pending. This Authority vide its order dated 23.07.2019 on this basis of the CA filed by the applicant, who claims to be the major sharehold....
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....y dismissed this Application holding that once CIRP is triggered, a fresh Section 7 Application cannot be entertained. The Appellants assailed the Order dated 23.07.2019, in 'Mohinish Kumar & Ors.' Vs. 'Mohit Chawla' Comp. App. (AT) (Ins.) 959/2020, before this Tribunal inter alia on legal grounds, including typographic errors. On 03.09.2019, the Appellants also filed CA 614/2019, in CA (IB) 1702/2019 before the Adjudicating Authority seeking rectification of the Order. Subsequently, on 05.02.2020, the Company Appeal was withdrawn with a liberty to have the rectification Application decided. On 27.02.2020, the Adjudicating Authority passed the Impugned Order, in CA 614/2019. Subsequently, on 28.08.2020, the Adjudicating Authority allowed CA 528/C-III/ND/2019, filed in CP (IB) No. 404/ND/2018 filed by Mr. Mohit Chawla/the Liquidator thereby initiating Liquidation Proceedings against R-1 Company. Thereafter the Appellants moved an Application bearing no. IA, 4000/2200 under Sections 65, 72 & 77 of the Code, inter alia seeking directions against the Respondents 2 & 3 for malicious and frivolous initiation of CIRP. 5. It is submitted by the Appellant that the Adjudicating Authority ....
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....s No. 2 and 3 and their associates/ agents under Sections 65, 72, 77 and/or other applicable provisions of the IB Code as well as the Companies Act, 2013 for furnishing false information, for wilful and material omissions from statements relating to the affairs of the Corporate Debtor, and for playing a fraud on the Corporate Debtor, its shareholders and other stakeholders; c) Pass orders under Section 213 of the Companies Act, 2013 requiring appointment by the Central Government of Inspector(s) to investigate the affairs of the Corporate Debtor; d) Direct the Insolvency and Bankruptcy Board of India to carry out an inspection and investigation into the conduct of Respondent No. 1 in his capacity as the RP in the CIR Process of the Corporate Debtor; e) Declare the CIR Process of the Corporate Debtor initiated vide order dated 10.12.2018 and Liquidation Process initiated vide order dated 28.8.2020 as a nullity, illegal and non-est in law on the ground of fraud played by Respondents No. 2 and 3; f) Pass such other/further order(s)/direction(s), order(s)/direction(s), which this Hon'ble Adjudicating Authority may deem fit and proper in the facts....
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....rtificates to the second Respondent. 11. We observe from the record that the Special Resolution dated 23.06.2018, was attached to the Application filed under Section 10 before the Adjudicating Authority, which consists of the Board Resolution dated 15.03.2018, which confers a right upon the 'Corporate Debtor' to file/represent under Section 10 of the Code. The Hon'ble Apex Court in 'M/s. Unigreen Global Pvt. Ltd.' (Supra) has held that 'Section 10 does not empower the Adjudicating Authority to go beyond the records as prescribed under Section 10, and the information has required to be submitted in Form-6 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority), Rules, 2016, subject to ineligibility prescribed under Section 11. If all information provided by an Applicant as required under Section 10 and Form-6 and if the Corporate Applicant is otherwise is not an ineligible under Section 11, the Adjudicating Authority is bound to admit the Application and cannot reject the Application on any other ground'. In the instant case, the Application is complete with respect to the requirement mandated and moreover, any 'irregularity' would not contemplate 'fraud' or ....