TaxTMI 
TaxTMI 
2023 (9) TMI 1384
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....dey , Mr. Ayush Gupta , Advocates for R-1 CMA Sandeep Kr. Bhatt , RP CMA Kamal Deep Tyagi , for R - 2 ORDER Heard Learned Counsel for the parties. 2. This Appeal has been filed against the Order dated 21st June, 2023 by which Order I.A. filed by the Appellant to recall the Order dated 24th September, 2019 has been dismissed. 3. An Application under Section 7 was filed by the Respondent-Stressed Assets Stabilization Fund against the Corporate Debtor-Krystal Stone Exports Ltd. in which Application notices were issued at the registered address of Corporate Debtor which was returned with postal remark left. The Adjudicating Authority on 2nd July, 2019 passed an Order to serve notice by Email as well as Publication in Newspapers i.e. Times....
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.... the Hon'ble NCLAT has set aside the CIRP admission order on the ground that the adjudicating authority has committed a procedural error in passing an order without effecting service of notice on the Corporate Debtor. However in the present case on hand, as rightly contended by the Resolution Professional, the notice was served on the Corporate Debtor through substituted service through paper publication in two leading newspapers as per the procedure prescribed by law and therefore this tribunal is of the view that there was no procedural irregularity or illegality committed by this tribunal and this tribunal has no power to set aside such admission order and the remedy of the Corporate Debtor if at all is only to file an appeal against....
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....o service was effected by email. It is submitted that the Appellant was not served nor any email was sent whereas Financial Creditor was well aware of the office situated at Jaipur hence the Adjudicating Authority committed error in rejecting Application. It is further submitted that the Adjudicating Authority also has erroneously observed that against the admission order, remedy of the Corporate Debtor is to file an Appeal. 5. Learned Counsel appearing for Financial Creditor opposing the submissions of Learned Sr. Counsel for the Appellant submits that registered address of the Corporate Debtor has been throughout at Mumbai which has been reflected in the proceedings undertaken by the Appellant itself and no error was committed in serving....
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....II, the Financial Creditor has served the NCLT Notice upon the Defendant at their registered address by Speed Post. Sr. No. Name of the Defendants Date of Service and R.D. Slip Number Remarks 1) Krystal Stone Exports Limited EM834489559IN Addressee Moved I hereto annex and mark Exhibit A and B are the Copies of Postal Slip and Track Report. 2) I state that the Defendant is served Copy of NCLT Notice on 19th June 2019 on its registered address by registered post. 3) I state that the packet containing NCLT Notice was returned with remark 'Left' to the Applicant. Hereto annexed and marked Exhibit C is the Original packet returned." 8. It appears that due to non-service effected on the corporate debtor, the Adjudicating Aut....
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....s Please refer to your letter dated May 05,20 14 on the above subject. We have carefully examined your proposal towards settlement of dues to SASF. The OTS amount offered by you is only Rs.31 0 lakhs. The proposal offered by you to SASF is not acceptable to SASF. Yours Faithfully (V. Viswanthan) DGM, SASF" 10. From the facts stated above, it is clear that registered office at Mumbai was not in the possession and control of the Corporate Debtor and after 2013 correspondence was made by the Corporate Debtor from Jaipur Address which was also responded by the Financial Creditor on 08th May, 2014. Learned Counsel for the Appellant has also submitted that Order dated 2nd July, 2019 also directed to serve through email but no servic....