2025 (1) TMI 1043

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....r RP Mr. Ashish Verma , Mr. Nikhil Thakur , Advocates ORDER ( Hybrid Mode ) Heard Counsel for the Appellant as well as Counsel appearing for the Respondents. 2. This Appeal has been filed by Suspended Director of the Corporate Debtor challenging the order dated 05.04.2024 by which order Section 7 application filed by Bank of India has been admitted. The Adjudicating Authority returned finding of debt and default and on the said finding has admitted Section 7 application. 3. Counsel for the Appellant challenging the order submits that there was no competent authorization to one Mr. Dhawan who had initially filed Section 7 application on 28.06.2019. He further submits that the date of default in the present case was 29.08.2012 ....

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....t was committed by the corporate debtor in complying the OTS proposal. It is submitted that the application was well within time. 6. We have considered the submissions of the Counsel for the parties and perused the record. 7. Coming to the first submission of the Appellant that proceedings was by unauthorized person, on the paper-book at page 480, a Circular of the Bank of India has been brought on record which was issued on 18.07.2019. In paragraph 3 of the said Circular, following was stated:- "3. In the above context our Board has approved in its meeting held on 27.06.2019 to authorize all officials of the rank of Assistant General Managers and Deputy General Managers to sign execute Applications, Appeals, Vakalatnama, bef....

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....29.08.2012 issued by the Bank of India. The said letter reads as follows:- "Bank of India The Bank That Cares e-mail: Janpath.New Delhi@ bankofindia.co.in Fax: 011-2332099. Telephones: 23320986(AGM), 28844059(CM). 28844060, 23355521 JANPATH Branch, 66, Janpath New Delhi-110001 ---------------------------------------------------------------------------------------------------- Ref No: JP/ADV/UCV/110 Date: 29-08-2012 ---------------------------------------------------------------------------------------------------- M/S West Face Hospitality And Management Pvt Ltd, E-1/7, 2nd Floor, East Patel Nagar, ....