2025 (12) TMI 229

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....vency & Bankruptcy<br>JUSTICE SHARAD KUMAR SHARMA, MEMBER (JUDICIAL) AND JATINDRANATH SWAIN, MEMBER (TECHNICAL) For the Appellant : No Appearance For the Respondent : Mr. Pranava Charan, Advocate, For R1, Mr. Ramakant Rai, Mr. Ravin and Mr. Varun, Advocates for R2 JUDGMENT [PER: JUSTICE SHARAD KUMAR SHARMA, MEMBER (JUDICIAL)] The Appellant in this company appeal, Park Energy Private....

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....le, since they do not have any locus as such nor they have any independent right to be agitated in the proceedings, which are drawn under Section 7, 9, or 10 of the I & B Code, 2016. The matter was heard at length by this bench on 31.07.2023 and the judgment was delivered on 17.11.2023, holding thereof that though there is merit in the contention of the Appellant that a shareholder being an aggrie....

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.... issue and answering the reference made, has ultimately come to a conclusion, that the company appeal would not be maintainable at the behest of the shareholder. After, the said question was answered by the larger bench, the Company Appeal was directed to be taken up on its own merits. 4. Subsequent thereto, Ld. Counsel for the Respondent made a mention on 01.08.2025 that since the larger bench....

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.... their e-mail communication so as to ensure their appearance, and that, despite of the aforesaid communication, the Appellants were not present. In these eventualities, we had proceeded to reserve the case for orders. 6. We note that the question of maintainability of the company appeal at the behest of the shareholders, the status which the Appellant enjoys, has already been decided by the lar....