2025 (4) TMI 660

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....<br>Insolvency & Bankruptcy<br>[ Justice Ashok Bhushan ] Chairperson, [ Barun Mitra ] Member ( Technical ) And [ Arun Baroka ] Member ( Technical ) For the Appellants : Mr. Mayank Bagla, Mr. Madhur Chitnis and Ms. Ankeeta Appanna, Advocates ORDER ( Hybrid Mode ) This Appeal has been filed against the order dated 13.02.2025 transferring C.P.No.(IB)/760(MB)2021 to Court No.1. The Appella....

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.... (a) preside over the consideration of cases by the Tribunal; (b) direct the Registry in the performance of its functions; (c) prepare an annual report on the activities of the Tribunal; (d) transfer any case from one Bench to other Bench when the circumstances so warrant; (e) to withdraw the work or case from the court of a member. (f) perform....

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.... rejected by order dated 02.02.2024. The power vested under Rule 16(1)(d) is exercised by the President from time to time. The President is a master of roaster and he can assign the case from one Bench to another Bench when the circumstances so warrant. There is no dispute that power has been exercised which has been communicated. The submission of the Appellant that the Appellant is entitled to k....

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....nd has always been to record reasons, even in administrative decisions, if such decisions affect anyone prejudicially. d. Recording of reasons also operates as a valid restraint on any possible arbitrary exercise of judicial and quasi-judicial or even administrative power." 7. The above was a case where Hon'ble Supreme Court has taken the view that principle is recognized that with reg....