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| The Tax Publishers 2019 TaxPub(CL) 0727 (NCLAT-Del) : (2019) 214 CompCas 0481 INSOLVENCY AND BANKRUPTCY CODE, 2016
Sections 61 & 7
Where Adjudicating Authority admitted application under section 7 for initiating CIRP against corporate debtor and said order did not cast any impact on the case of appellant/claimant, then, appeal filed by appellant/claimant challenging order of admission of application was to be dismissed.
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Appeals and Appellate Authority - Appeal against rejection of impleadment application and admission of insolvency application - Maintainability thereof -
Respondent-bank filed application against corporate debtor for initiating CIRP under section 7. DDPL, who claimed as purchaser of one of the properties of corporate debtor, filed application to get impleaded in the proceedings. However, the NCLT rejected the impleadment application filed by DDPL and admitted the application under section 7. DDPL challenged the aforesaid orders in appeal. Held: In view of decision in Innoventive Industries Ltd. v. ICICI Bank & Ors. (2018)1 SCC 407, an aggrieved party could prefer an appeal if the order of admission affected the person. In the present case, the order of admission did not cast any impact on the case of DDPL. Therefore, appeal filed by DDPL was not maintainable and was dismissed.
Followed:Innoventive Industries Ltd. v. ICICI Bank & Ors. (2018)1 SCC 407
REFERRED :
FAVOUR : Against the appellant
A.Y. :
IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHI
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