The case involves two appeals filed by the same Appellant, a shareholder of the Corporate Debtor, against a common order dated 11.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, in IA (IB) No. 389/KB/2023 & IA (IB) No.391/KB/2023. The Appellant sought recall of an order dated 08.10.2021, which admitted 'SREI Infrastructure Finance Limited' (SIFL) and 'SREI Equipment Finance Limited' (SEFL) into CIRP. The applications for recall were rejected by the Adjudicating Authority, leading to the current appeals.
SREI Infrastructure Finance Limited (SIFL) and SREI Equipment Finance Limited (SEFL) are financial service providers registered with the Reserve Bank of India (RBI). On 01.10.2021, the RBI superseded the Board of Directors of SEFL and SIFL under Section 45-IE of the RBI Act, 1934, appointing Mr. Rajneesh Sharma as Administrator. The Appellant, a shareholder of SIFL, challenged this order before the Bombay High Court, which dismissed the petition on 07.10.2021. A Special Leave Petition was also dismissed by the Supreme Court. The RBI filed CP (IB) No. 295/KB/2021 against SIFL and CP (IB) No.294/KB/2021 against SEFL under Section 227 of the IBC. The Adjudicating Authority admitted these applications on 08.10.2021 and declared a moratorium. The Appellant challenged this
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RBI superseded the Board of Directors of SEFL…
The Appellant's…
The case involves two appeals filed by the same Appellant, a shareholder of the Corporate Debtor, against a common order dated 11.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, in IA (IB) No. 389/KB/2023 & IA (IB) No.391/KB/2023. The Appellant sought recall of an order dated 08.10.2021, which admitted 'SREI Infrastructure Finance Limited' (SIFL) and 'SREI Equipment Finance Limited' (SEFL) into CIRP. The applications for recall were rejected by the Adjudicating Authority, leading to the current appeals.
SREI Infrastructure Finance Limited (SIFL) and SREI Equipment Finance Limited (SEFL) are financial service providers registered with the Reserve Bank of India (RBI). On 01.10.2021, the RBI superseded the Board of Directors of SEFL and SIFL under Section 45-IE of the RBI Act, 1934, appointing Mr. Rajneesh Sharma as Administrator. The Appellant, a shareholder of SIFL, challenged this order before the Bombay High Court, which dismissed the petition on 07.10.2021. A Special Leave Petition was also dismissed by the Supreme Court. The RBI filed CP (IB) No. 295/KB/2021 against SIFL and CP (IB) No.294/KB/2021 against SEFL under Section 227 of the IBC. The Adjudicating Authority admitted these applications on 08.10.2021 and declared a moratorium. The Appellant challenged this
…RBI superseded the Board of Directors of SEFL…
The Appellant's…