TaxTMI 
TaxTMI 
2026 (4) TMI 311
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....i, Advocates for R1 ORDER Oral Judgment: Justice Sharad Kumar Sharma, Member (Judicial): These two Company Appeals are listed under the head of defective cases. After having gone through the records and in particular the report, as given by the Registry i.e., dated 09.03.2026, in fact, there is no defect at all. Hence, we proceed to consider the Appeal at the admission stage. 2. These two Company Appeals are accompanied with an independent Condone Delay Application, being IA No.402/2026 and IA No.404/2026, as respectively, preferred by the Appellant seeking condonation of 15 days of delay, that has chanced in preferring the Company Appeal. Apparently, the impugned order which has been passed, i.e., being that of 06.01.2026, the ....
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....solution Professional and consequentially the Resolution Professional had been directed to submit its report under Section 99 of the I & B Code, 2016, in lieu of remunerations mentioned therein, wherein the Petitioners were directed to file the proof of the same by way of an affidavit and the consequential a renumeration has been fixed for the services to be rendered by Resolution Professional for the purposes of conducting the inspection and submission of the report. As the consequence of the order, which has been passed by the Learned Tribunal happens to be falling within the restricted limits of Section 99 of the I & B Code. 5. The question that arises for consideration in the Company Appeals, are as to whether at this stage of the pr....
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....w for the adjudicatory intervention of the adjudicating authority in adjudicating what is described as a jurisdictional question at the stage of Section 97(5) 86. We summarise the conclusion of this judgment below: (i) No judicial adjudication is involved at the stages envisaged in Sections 95 to Section 99 of the IBC; (ii) The resolution professional appointed under Section 97 serves a facilitative role of collating all the facts relevant to the examination of the application for the commencement of the insolvency resolution process which has been preferred under Section 94 or Section 95. The report to be submitted to the adjudicatory authority is recommendatory in nature on whether to accept or reject the applic....
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....ion under Section 100 for the purpose of determining whether to accept or reject the application; (viii) The purpose of the interim-moratorium under Section 96 is to protect the debtor from further legal proceedings; and (ix) The provisions of Section 95 to Section 100 of the IBC are not unconstitutional as they do not violate Article 14 and Article 21 of the Constitution." 6. The Hon'ble Apex Court in the matters of Dilip B Jiwrajka (supra) has observed that up to the stage of the proceedings under Section 99 of the I & B Code, 2016, since there is no judicial adjudication of any of the rights of the parties, because it is only a ministerial work of collecting the records, data in the shape of the report to be submitte....
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.... under Section 95 of the I & B Code, 2016, after crossing the stage of Section 100 of the I & B Code, 2016, where the Learned Adjudicating Authority then only decides whether to accept or reject the application. In these eventualities, the proceedings in the present Company Appeal, at this stage, would not be maintainable and deserve dismissal. 8. However, at this stage, the Learned Counsel for the Appellant intends to carve out an exception that since there had been earlier proceedings that were held under Section 95 of the I & B Code, 2016, and that have attained finality. The instant proceedings would be in the shape of the subsequent proceedings, and that would not be maintainable. Be that as it may, if at all, the earlier institutio....