2024 (3) TMI 927

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....opalan, Sr. Advocate For the Respondent No. 1 : Mr. P.H. Arvindh Pandian, Sr. Advocate For Ms. Pooja Mahajan Advocate For the Respondent No. 2 : Mr. T Ravichandran Advocate for Liquidator ORDER ( Hybrid Mode ) In the instant Comp. App. (AT)(CH)(Ins) No.79 of 2024 heard Mr. P.H. Arvindh Pandian, Learned Senior Counsel appearing for the 1st Respondent/Petitioner' in IA (IBC) No.346 of 2024 in CP(IB) No.61/CHE/2021 on the file of the 'Adjudicating Authority'/National Company Law Tribunal, Special Bench Court-1, Chennai. It comes to be known from records that on 30.01.2024 in IA (IBC) No.346 of 2024 in CP(IB) No.61/CHE/2021, the 'Adjudicating Authority/National Company Law Tribunal, Special Bench Court-I, Chennai, had directed....

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....nished/deposited' and ultimately, proceeded to pass an order, that there will be a 'fresh auction' and the 'Applicant, Successful Bidder' and other persons would be permitted to participate in the 'fresh e-auction' is liable to be set aside, to secure the 'ends of justice' because of the latent and patent fact that the 'Appellant/Proposed Impleading Party, who was directed earlier by the 'Adjudicating Authority/Tribunal' through its order dated 30.01.2024 to be impleaded as the 'Appellant/Successful Bidder', as one of the 'Respondents', was not added as a party as one of the Respondents, this 'Tribunal' is of the considered view that the said omission is a vital one and goes to the root of the matter and affects the impugned order dated 30.....

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.... in I.A. (IBC) No. 346 of 2024 in CP (IBC) No. 61/CHE/2021 and the, 1st Respondent in the 'instant Appeal' is required to take necessary steps in filing an 'Application' to implead the 'Appellant/Successful Bidder', as one of the Respondents, to the main I.A. (IBC) No. 346 of 2024 in CP (IBC) No. 61/CHE/2021. In the event of the 1st Respondent/Petitioner' filing an 'interlocutory Application' for impleading the party (viz. the Appellant as one of the Respondents to the I.A. (IBC) No. 346 of 2024 in CP (1BC) No. 61/CHE/2021 the 'Adjudicating Authority/Tribunal' shall take it on record and ofcourse, upon scrutiny and assigning number (if it is otherwise in order) is to pass a 'reasoned order' on merits in qualitative and quantitative terms....