mr-mukesh-kumar-jain-v-navin-kumar-upadhyay-anr-nclat-new-delhi-513854

NATINAL MPANY LAW APPELLATE TRIBUNAL, PRINIPAL BENH, NEW DELHI ompany Appeal (AT) (Insolvency) No. 93-931 of 223 [Aisig t f d datd 3..223 passd y th Addiatig Athity (Natial pay aw Tial), Nw lhi (t N.III) i IA N. 243/223 ad IA N. 4 f 223 i P IB-118/N/22] In the matter of: Mr. Mukesh Kumar Jain...Appellant Vs. Navin Kumar Upadhyay & Anr....Respondents For Appellant: M. ata Sighal, M. Raat hadhay, Advats. For Respondents: M. Saav Agawal, M. Asav Raa, M. Aay Shaa, Advats f R-1 WITH ompany Appeal (AT) (Insolvency) No. 943-944 of 223 Aisig t f d datd 3..223 passd y th Addiatig Athity (Natial pay aw Tial), Nw lhi (t N.III) i IA N. 243/223 i IB-118/N/22] In the matter of: Amit Goel...Appellant Vs. Navin Kumar Upadhyay & rs....Respondents For Appellant: M. Maish Kashik, M. Ait Sigh h, Ms. Ashita Agawal, Advats. For Respondents: M. Saav Agawal, M. Asav Raa, M. Aay Shaa, Advats f R-1. M. ata Sighal, Advat f RP/R-2.2 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 J U D G M E N T (19th December, 223) Ashok Bhushan, J. Ths tw Appals hav fild agaist th tw ds passd y th Addiatig Athity (Natial pay aw Tial), Nw lhi (t N.III) i IA N. 243/223 fild y M. Navi Ka padhyay- Rspdt N.1 hi ad IA N. 4 f 223 fild y M. Mksh K. ai, th Appllat i pay Appal (AT) (Islvy) N. 3-31 f 223. pay Appal (AT) (Islvy) N. 3-31 f 223 has fild y M. Mksh K. ai, Rslti Pfssial f th pat t- ‘MYK Pith td.’ ad pay Appal (AT) (Islvy) N. 43-44 f 223 has fild y M. Ait l, Sspdd it f th pat t. 2. Bif fats f th as hav alady td i d datd .11.223 passd i ths Appals whil didig IA N.4138-413 f 223 fild y Rspdt N.1- M. Navi Ka padhyay. F sak f vity, it shall sffi t ti paagaphs 3, 4 ad f th said d whih tid th akgd fats, whih a as fllws- “. The pte Insleny Reslutin Pess ws initite ginst the pte et-MYK Pinteh Lt. ie e te 1th nuy, 1. ne M. Rnjeet Kum Vem ws ppinte s IRP. n n Apil, 1, IRP ppinte Respnent N. 1 M. Nin Kum phyy s Exeutie Eit f The Pinee Newsppe un y the pte et. mpny Appel AT Ins. N. 18 f 1 ws file hllenging the e mitting IRP y Suspene iet f 3 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 the pte et whih Appel me t e ismisse y this Tiunl ie its e te 16.1.1. Aginst the e te 16.1.1, tw iil Appls w fild in th Hn’l Supm ut ne y Shi nguli n nthe y Nen Kum & Nin Kum phyy Respnent N. 1). In the iil Appels file ginst the e te 16.1.1, Hn’l Supm ut pssd fllwing inteim e n 5th Feuy, “PN hing th unsl th ut md th fllwing R E R Issue ntie. Thee shll e sty f the fllwing in the menwhile 1. pte Insleny Reslutin Pess f the Respnent N. n . jugment n finl e te 16.1.1 psse y the NLAT in mpny Appel AT inslny) N. 18/1” 4. The IRP M. Rnjeet Kum Vem ws eme n in his ple M. Mukesh Kum in The Appellnt heein ws ppinte s RP. RP file n I.A. N. 1441/ in iil Appel N. 661 f sking tin ditins fm th Hn’l Supm ut. n 1st nuy, , Reslutin Pfessinl issue lette t Respnent N. 1 infming tht ntt f Respnent N. 1 expie n 1st My, n fte tking e hge y the RP, RP hs ntinue mnth t mnth upn expiy f ntt n 1st My, it ws futhe mmunite tht Respnent N. 1 hs ley ttine the ge f 6 yes, the RP eliee the Respnent N. 1 fm his 4 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 pst f Exeutie Eit with effet fm 1st Feuy, . The Respnent N. 1 fte eeipt f Lette te 1st nuy, fild I.A. in th Hn’l Supeme ut eing I.A. ie iy N. 6561 f inging n e the lette te 1st nuy, teminting seie f Respnent N. 1 n seeking ietin fm the Hn’l Supm ut t initit ntempt peeings f iseiene f the Inteim e te 5th Feuy, psse y the Hn’l Supm ut in th iil Appls. A dft ws epte in the si pplitin y the Registy. RP hs file I.A. N. 64 f efe the NLT estining the Respnent N. 1 fm enteing int the ffie f the pte et. Respnent N. 1 file I.A. N. 4 f efe NLT hllenging his eml, the Ajuiting Authity ie e te th My, llwe the I.A. N. 4 f n ismisse the I.A. N. 64 f s infutuus. Tw ppels wee file hllenging the e te th My, in this Tiunl eing mpny Appel AT Ins. N. - 1 f y Reslutin Pfessinl n nthe mpny Appel AT Ins. N. 4-44 f n ehlf f M. Amit el, the suspene iet. 5. Bth the ppels wee he y this Tiunl n this Tiunl psse n Inteim e n 4th uly, . The Ajuiting Authity ie e te th My, hs issue thee ietins whih he een ntie in pgph 1 f the Inteim e te 4th uly, whih is t the fllwing effet “4.7. Ths tw ppls h n fild ginst the sme e te .5. n n I.A. N. 4 f file y Respnent N. 1. 5 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 Ajuiting Authity hs llwe the I.A. n issue ietin in pgph16 t the fllwing fft …. “16. Aft nsiding th il ntntins nd pusing th d pssd y th Hn’l Supeme ut n 5.., we e f the nsiee iew tht the Reslutin Pfessinl mpny Appel AT)Insleny N. -1 & 4-44 f Pge f 8 hs mmitte n e in nt hning e the mngement f the ffis f the pte et t the iets/nly mngement. The tins f the Reslutin pfessinl fte the e te 5.. pssd y th Hn’l Supm f Ini e withut ny uthity sine ne the IRP hs een stye the Reslutin Pfessinl ul nt he tken ny futhe tin. We, theefe, feel it pppite t iet tht ll tins tken y the Reslutin Pfessinl fte the sty e psse y the Supeme ut f Ini n 5.. e withut ny uthity n unsustinle n theefe, we pss the fllwing ietins - 1. “Th Rslutin Pfssinl shll immeitely hn e the mngement f the pte et t the E/Mngement f the . . All tins tken y the Reslutin Pfessinl fte the e te 5.. pssd y th Hn’l Supm ut f Ini inluing the eml f the Applint n ppintment f M. Vishl Bkshi e ele t e null n i. ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 . Sttus, puli psitin f the pte et s it ws efe pssing f the e dtd 5.. y Hn’l Supm ut f Ini shll std k.” …” 3. I IA N.243 f 223 whih was fild y th Rspdt N.1, fllwig pays hav ad- “I All the pplitin f the Applint n ush the eisins f eml f the Applint eing illegl n i s ne y RP ithut ny uthity n ginst the pisins f IB. II) ush the eisins f the ppintment f M. Vishl Bkshi, eing illegl n i s ne y RP ithut ny uthity n ginst the pisins f IB. III) iet the RP t hn e the mngement f y-t-y ffis f the pte et t the E/Mngement B immeitely in ie f the e te 5.. psse y the Hn'le Supeme ut IV) Suspen the RP f his illegl ts immeitely n iet him t efun the sly t the mpny eie y him illeglly uing this sty pei. V) Pss n -inteim e in tems f the e pyes. VI) Pss ny the neessy es ietins s this Hn'le Tiunl my eem fit n ppe in ie f the e- mntind fts nd iumstns.” 4. I appliati fild y th Rslti Pfssial ig IA N.4 f 223, Rslti Pfssial payd f fllwig pays- Pss inteim/finl ietins t the Nn-Applint N. t nt t ente int the ffie pemises f the pte et n/ t stut the king f the pte et ie ut une the ntl f the Applint Reslutin Pfessinl7 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 Pss inteim/finl ietins t the Nn-Applint N. t pie neessy ssistne n suppt t unesigne Reslutin Pfessinl in ishge f his uties s pe e Pss neessy futhe e/ ietins t the pplint Reslutin Pfessinl ut this sttus s questine y the Nn-Applint N. heein Issue suh neessy es s my e eeme fit in the mtte y Hn'le Tiunl. 5. Th Addiatig Athity y d datd 3..223 allwd th IA N.243 f 223 ad issd ditis i paagaph 1 whih w hav alady xtatd av. Th Addiatig Athity dispsd f th IA N.4 f 223 fild y th Rslti Pfssial svig that i viw f th d passd i IA N.243 f 223, fth ditis a dd i th att. 6. ad sl appaig i th th av sts f Appal hav hallgd th d datd 3..223 passd i IA. N. 243 f 223 ad IA N.4 f 223. Th sissis advad i th st f Appals ig , w pd t ti th said sissis. 7. ad sl f th Appllat sits that agaist th d passd y this Appllat Tial datd 1.11.223, M. Navi Ka padhyay, th Rspdt N.1 i th th Appals has alady fild ivil Appal ig ivil Appal N.22 f 222 wh iti d was passd y th H’l Sp t .. whih d is still tiig ad aft issig th ltt datd 31.1.223 y Rslti Pfssial ifig that his tat has xpid 31..222 h havig attaid yas f ag, h has livd w..f. 1.2.223. Rspdt N.1- M. 8 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 Navi Ka padhyay fild a appliati vid iay N.1 f 223 igig f th H’l Sp t th d datd 31.1.3 gadig tiati f svi whih appliati is still pdig, h, it is t p f th Rspdt N.1 t fil IA N.243 f 223 f th Tial. It is sittd that th Addiatig Athity ittd i svig that i viw f th stay f th IRP, th Sspdd its hav t istatd lyig th law laid dw y this Appllat Tial i pay Appal (AT) (Islvy) N.1323 f 223- “Ashok Kumar Tyagi vs. U Bank” whas sh ppsiti is laid dw y this Tial. Th Addiatig Athity isad th lgal psiti as laifid y this Tial i ‘Ashk Kum Tygi’ (spa) ad has wgly ditd f hadig v hag y th Rslti Pfssial t th aagt f th pat t. It is sittd that th att ig pdig i th H’l Sp t, it is p f th Rspdt N.1 t ak ay sh th appliati as ay advisd t appahig th Addiatig Athity ad taiig a d was alld f. It is sittd that it was th Rslti Pfssial wh is ayig t day-t-day siss si th Rslti Pfssial has t yt dishagd. Rslti Pfssial havig tak a disi t t ti Rspdt N.1 w..f. 1.2.223, th Rspdt N.1 has ight t lai tia. It is sittd that th Rspdt N.1 is wgly laiig that h is titld t ti as Extiv Edit f th pat t ad iv salais whas th pat t is ig i lsss ad it is th Rslti Pfssial wh is ig th pat t f day-t-day fti ad it is f th 9 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 Rslti Pfssial t tak a disi gadig tia f staff f th pat t ad t gag ay staff dig y f IRP. 8. ad sl appaig f th Rspdt N.1 ftd th sissis f th Appllat ad sits that th fat that th H’l Sp t has stayd th IRP ds t dd th Addiatig Athity f xisig isditi with all th atts whih ais dig IRP. It is sittd that th Rspdt N.1 has t hallgd th d datd 31.1.223 i ivil Appal. It has ly fild a IA t iitiat tpt Pdig agaist th Rslti Pfssial wh has vilatd th d datd 2.2.222, whih appliati, d has yt passd. It is sittd that th Rspdt N.1 has tiig as Extiv Edit ad v aft 1.2.223, h has tid as Extiv Edit whih is appat f th pliati f th wspap wh a f th Rspdt N.1- M. Navi Ka padhyay has tid as Extiv Edit. It is sittd that th Rslti Pfssial has isditi t v th Rspdt N.1 as Extiv Edit ad appit ath ps i his pla. Th Addiatig Athity has ightly passd a d lyig th iti d passd y th H’l Sp t datd 2.2.222. A iti d was passd y this Appllat Tial i th pst Appals 24.7.223 whi i paagaph 8 f th iti d fllwig was svd- “8. We e f futhe ie tht Ajuiting Authity ught nt t he entetine the pplitin hen the mtte is pening efe the Hn'le Supeme 1 ompany Appeal (AT) (Ins.) No.93-931 & 943-944 of 223 ut n s extensiely he y the Hn'le Supeme ut n seel tes. We e thus f the ie tht the ietin issue y the Ajuiting Authity in pgph 6) & esees t e stye n e iet tht the ietins in ) f pgph-6 min styd.” 9. Th Rspdt N.1 has fild ath appliati ig IA N.4138- 413 f 223 i pay Appal (AT) (Islvy) N.3-31 f 223 wh fllwig pays hav ad- A. Set sie/qush the mmunitin ntine in the emil te .8. issue y the Reslutin Pfessinl effetiely eming the Applint s the Exeutie Eit f the newsppe n ppinting Ms. Shi nguli s Exeutie Eit Eit in hief) f newsppe un y pte et ie emil te .8. n B. Reinstte the Applint, M. Nin Kum phyy s the Exeutie Eit f the newsppe f pte et in ne with Pgph N. 16 ) f e te .5. psse y the Ajuiting Authity e with e te 4.7. n e te 1.8. psse y this Hn'le Tiunl n ls iet the pyment f nttul ues/es f the Applint sine nuy nws . Reme n iet the Insleny n Bnkupty B f Ini t inestigte n initite isipliny peeings ginst the Reslutin Pfessinl, M Mukesh in, n iet the new Reslutin Pfessinl t initite peeings in ne