2024 (3) TMI 1293

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.... Ms. Ekta Bharati , Advocate For the Respondent : Mr. TK Bhaskar , Advocate For Mr. AG Sathyanarayana Advocate for Liquidator / R1 ORDER ( Hybrid Mode ) After 'Hearing' the arguments of Learned Counsel Mr. Kumar Anurag Singh appearing for the 'Appellant', and also Mr. TK Bhaskar, Learned Counsel appearing for the '1st Respondent/Liquidator', it transpires that the instant 'Appeal' (AT)(CH)(Ins) No.106 of 2024 is filed against the 'Impugned Order' dated 09.02.2024, in IA No.1800/2023 in IA(IBC)/1425/2022 in CP/216/2019 passed by the 'Adjudicating Authority'/ National Company Law Tribunal, Division Bench-1, Chennai. It comes to be known that in IA No.1800/2023 in IA(IBC)/1425/2022 in CP/216/2019 relief sought for by the 'Appell....

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....o. 456 of 2022) vide whereby and whereunder, the 'Appellate Tribunal', had also allowed the 'Joint Sale of Properties of the 'Corporate Debtor', 'Guarantors', etc. At this juncture, suffice it for this 'Tribunal', to pertinently point out that the 'Adjudicating Authority/Tribunal' had found no merit in the 'Application', and 'dismissed' the said 'interlocutory Application'. Mr. T.K. Bhaskar, the Learned Counsel appearing for the '1st Respondent/Liquidator', while taking this 'Appellate Tribunal', to the 'Impugned Order' passed by the 'Adjudicating Authority/Tribunal' dated 09.02.2024, in IA No.1800/2023 in IA(IBC)/1425/2022 in CP/216/2019 passed by the 'Adjudicating Authority'/ National Company Law Tribunal, Division Bench-1, Chennai,....

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....is not desirous of assailing the 'subsequent E-auction Notice' dated 15.02.2024, (being the later development, after the earlier 'Auction Notice' dated 16.09.2023) and in the absence of any challenge to the subsequent 'E-auction Notice' dated 15.02.2024, then 'in law', it amounts to 'waiver', 'Acquiescence' and also 'Estoppel By Conduct', of the 'Appellant/Petitioner'. Viewed in the aforesaid perspective, the instant 'Comp. Appeal' (AT(CH)(Ins) No.106 of 2024, filed by the 'Appellant', is only an 'exercise in futility'/'otiose one', in the considered opinion of this 'Tribunal'. As such, this 'Tribunal' is not inclined to entertain the instant 'Comp. Appeal' (AT)(CH)(Ins) No. 106/2024 and 'Dismisses' the same, at the 'Admission' stage, wi....