2026 (5) TMI 68

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....s grievance, being aggrieved against the impugned order dated 04.02.2026, as it has been passed in IA No.181/2025, that was preferred in CP(IB) No.20/BB/2023. By virtue of the said IA that was preferred before the Learned Tribunal, the Appellant had agitated his grievances as against the rejection of his claim by the RP/Respondent No.1 on 25.01.2025, and had prayed for setting aside of the order of liquidator dated 25.01.2025, and issue of direction to the RP to admit his claim and to include him in the CoC. Besides, he had also prayed for that the Resolution Professional may be replaced with another insolvency professional, so as to carry out the proceedings in future. When this IA came up for consideration before the Learned Tribunal, the....

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....Tribunal left it open for the RP to initiate a proceedings under Sections 43, 45, 50 & 66 of the Code, it was beyond the ambit and scope of the proceedings, which were drawn by the Appellant by filing IA No.181/2025 against rejection of his claim, and beyond the scope of IA No.181/2025 and the issue before the Learned NCLT. He has further submitted that the said issue of initiating proceedings under Sections 43, 45, 50 & 66 of the Code ought to have been raised in an altogether independent proceedings and that the Learned Tribunal ought not to have given the said directions in the present proceedings to be utilised by the RP as the basis for initiation of those proceedings, as directed under Sections 43, 45, 50 & 66 of the Code. 3. Furth....

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....eason being that the Learned Counsel for the Respondent had made a statement at bar that the AFA of the Resolution Professional had expired on 31.12.2025, and that the same has been renewed at a later date. Learned Counsel for the Appellant has argued that the said AFA has not yet been renewed and no valid AFA is existing as on date as per the records retrieved from the site of IBBI and therefore he cannot continue to function as RP. But at this stage, we are not venturing into the issue, and that aspect will be exclusively considered by the Learned Tribunal at the relevant stage, when the proceedings are taken up before it. 5. The observation, which has been made by the Learned Tribunal qua the aspect of "related party", the said observ....

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....order of RP dated 25.01.2025 and therefore Learned Tribunal, while setting aside the rejection of the claim by the RP and remitting the matter back the RP to re-determine the claim, ought to have desisted itself from making any observation qua the necessity of initiation of the avoidance proceedings under Sections 43, 45, 50 & 66 of the Code, because that would amount to be travelling beyond the subject, which was being agitated by the Appellant before the Learned Tribunal. In that eventuality, the observation made in para 7(c) by the Learned Tribunal, in the impugned order, would stand quashed. Having said so, we disposed of the Company Appeal with the following observations: - (i) Any observation made by the Learned Tribunal qua ....