2023 (11) TMI 1392

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... JAIN MEMBER (JUDICIAL) AND SHREESHA MERLA MEMBER (TECHNICAL) Present For Appellant : Mr. Karthik Seshadri, Advocate For Mr. Abhinav Parthasarathy, Advocate. For Respondent : Mr. Chandramouli Prabhakar, Advocate for Caveator. ORDER PER: JUSTICE RAKESH KUMAR JAIN: This appeal is directed against the order dated 15.11.2023, passed by the Adjudicating Authority (National Company Law....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pellant (Financial Creditor) who has preferred this appeal, being aggrieved against the impugned order. The issue no. ii is in regard to the maintainability of the application on which the Adjudicating Authority has passed the following order:- "ISSUE NO. (ii) 44. The Applicant: in Part -IV of the Application has clearly mentioned the date of default as 22.02.2021. As per Section....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on-For the removal of doubts, it is hereby clarified that the provisions of this section shall not apply to any default committed under the said sections before 25th March, 2020. 45. As per the Ministry of Corporate Affairs Notification S.O. 3265(E) dated 24th September 2020, the period of 10A was extended three months from 25th September 2020. Thereafter, the Ministry of Corporate Affair....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ction 10A period and as such no Application under Section 7, 9 and 10 of IBC, 2016 can ever be filed against the Corporate Debtor if the default has occurred during the Section 10A period. 47. Thus, we are of the view that the Application falls within the period mentioned under Section 10A of IBC 2016 and as such this Application is required to be rejected on the said count also. ....