National Company Law Appellate Tribunal
Sudhir Kumar Jha vs Mr. Neeraj Kejriwal Resolution ... on 21 January, 2022
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
PRINCIPAL BENCH, NEW DELHI
Company Appeal (AT) Insolvency No. 64 of 2022
IN THE MATTER OF:
Mr. Sudhir Kumar Jha ...Appellant
Vs.
Mr. Neeraj Kejriwal (Resolution Professional) & Ors. ...Respondents
For Appellant: Advocate Soumya Dutta
For Respondent:
ORDER
(Virtual Mode) 21.01.2022: Heard Learned Counsel for the Appellant.
2. This Appeal has been filed against the Impugned Order dated 09.11.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata) in IA(IB) No. 595/KB/2021 in CP(IB) No. 1116/KB/2019 by which Order the Adjudicating Authority has directed for liquidation on the application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as 'Code'). In Paragraph 6 of the Impugned Order, the Adjudicating Authority has observed as under:
"6. The first meeting of the CoC was held on 19.03.2020 wherein the CoC confirmed the appointment of the IRP as the RP. The CoC in the eight CoC meeting held on 05.06.2020, passed a resolution to liquidate the Corporate Debtor in the absence of any scope for revival of the business of the Corporate Debtor as the Corporate Debtor is not a going concern and the assets of the Corporate Debtor are negligible." 2
3. We have also been shown the Order passed by the Adjudicating Authority where Adjudicating Authority has subsequently directed the Resolution Professional to take 'Police Help' for getting the assets. Learned Counsel for the Appellant submits that one chance should be given to the Appellant to revive. The CoC has already passed Resolution for Liquidation and clear opinion has been expressed in the 08th CoC Meeting held on 05.06.2020 that there is no scope for revival of the business of the Corporate Debtor.
4. We are of the view that the Adjudicating Authority has not committed any error in allowing the Application filed by the Resolution Professional for liquidation. From the materials available on record, it does appear that Appellant Ex-Director has not co-operated with Resolution Professional and Applications were also filed seeking appropriate direction and subsequently direction for 'Police Help' has also been issued.
We see no reason to interfere with the Impugned Order. The Appeal is dismissed, accordingly.
[Justice Ashok Bhushan] Chairperson [Justice Jarat Kumar Jain] Member(Judicial) [Dr. Alok Srivastava] Member (Technical) Basant/nn Company Appeal (AT) Ins. No. 64 of 2022