# In the matter of Ashok Kumar Gupta Vs.
PNB Housing Finance Ltd. Comp. App. (AT) (Ins.) No. 725 of 2022

> NCLAT judgment dated 2022-07-06. Citation: TCN-2022-NCLAT-00388. This is an appeal against the order dated 06.06.2022 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 6 Jul 2022
- **Citation:** TCN-2022-NCLAT-00388
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ashok-kumar-gupta-vs-pnb-housing-finance-ltd-comp-app-1ec5ad04

## Summary

### Background

This is an appeal against the order dated 06.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-II. The Adjudicating Authority appointed a Resolution Professional and directed them to exercise powers under Section 99 of the IBC and submit a report. The application under Section 95(1) filed by PNB Housing Finance Ltd. has not yet been admitted.

## Facts

The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-II, passed an order on 06.06.2022, appointing a Resolution Professional and directing them to exercise powers under Section 99 of the IBC and submit a report. PNB Housing Finance Ltd. filed an application under Section 95(1), which has not yet been admitted. The Appellant has filed an appeal against the order. The Appellant has also submitted an OTS proposal to the Bank, which is under consideration. The court noted that the application under Section 95(1) is still pending and has not been admitted or rejected.

## Issues and analysis

### Issue 1: Whether the appeal against the order of the Adjudicating Authority is maintainable when the …

**Ratio:** An appeal is generally not entertained when the underlying application is still pending

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**Reasoning:** The court reasoned that since the application under Section 95(1) is still pending, there

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**Interpretation:** The interpretation is that the court is hesitant to interfere in matters where

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** ASHOK KUMAR…
- **Respondents:** PNB Housing…

## Timeline

- **2022-06-06 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-II,…
- **2022-07-06 — Appeal He…**: The court heard Shri Ravi Sikri,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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