2026 (1) TMI 21

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....facts and circumstances, where the Appellant, while preferring the instant Company Appeal, questions the impugned order dated 03.03.2022, that has been passed by the Learned NCLT, Bengaluru Bench in CP(IB) No.119/BB/2020. 2. The genesis of the proceedings are that a proceeding under Section 9 of the I & B Code, 2016, stood initiated by the Respondent No.1 to the instant Company Appeal, praying for initiation of the CIRP process, as against the present Appellant herein by filing an application for the same before the Tribunal being CP(IB)/119/BB/2020. At the first stage of proceedings when the matter as carried in CP(IB) No.119/BB/2020 was taken up by the Learned NCLT, Ld. NCLT vide its Judgment of 24.02.2021, had closed the Company Petit....

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....t is a fit case to be admitted by the Adjudicating Authority. Accordingly, we set aside the 'Impugned Order' dated 24.02.2021 and direct the Adjudicating Authority to admit the Application and initiate 'Corporate Insolvency Resolution Process' within 15 days from the receipt of copy of this Order. The 'Registry' of this 'Tribunal' is directed to send the copy of this 'Order to the Registrar/Deputy Registrar, National Company Law Tribunal, Bengaluru Bench, Bengaluru for the information to the Learned Members of the Bengaluru Bench. With the aforesaid directions, the 'Appeal is Allowed'. No Orders as to costs". 4. This Appellate Tribunal, at that point of time while passing the order on 07.09.202....

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....n of Section 9 of the I & B Code, 2016, were not prevailing at the time when CIRP was commenced, in pursuance to the order of 03.03.2022 of Learned NCLT, would not be a scope, which will now at all be left open for us to be consider at this stage for the reason being that rightly or wrongly this Appellate Tribunal, in the earlier proceedings, which was initiated by the Applicant/Respondent as against the principal order passed by the Learned Adjudicating Authority on 24.02.2021, had already come to a conclusion that, it was a fit case for admission to the CIRP process. Since the determination has already been made by the Appellate Tribunal by the Judgment of 07.09.2021, which has already attained finality, and also because that has not been....

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....uthority, thereafter Learned NCLT had issued fresh notices to the Appellant and the notices thus sent were recorded to have been delivered on the Corporate Debtor, (the Appellant herein), but they have not presented themselves before the Learned Tribunal, despite service. (ii) In that eventuality, the Learned Adjudicating Authority had no other option except to proceed to pass the order on merits, i.e., the order dated 03.03.2022, which is impugned in the instant Company Appeal. 8. Examining and scrutinizing the aspect pertaining to the non-issuance of the notice to the Appellant, even presuming that, he was not heard before passing of the order dated 03.03.2022, would be an exercise in futility, for the reason being that, the p....