# In the matter of Ashok Kumar Sarawagi,
Resolution Professional of Kohinoor Steel Private
Limited Vs.
Enforcement of Directorate & Anr. Comp. App. (AT) (Ins.) No. 411 of 2022

> NCLAT judgment dated 2022-05-09. Citation: TCN-2022-NCLAT-00493. The case involves an appeal against an order dated 02.03.2022 passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 9 May 2022
- **Citation:** TCN-2022-NCLAT-00493
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ashok-kumar-sarawagi-resolution-professional-of-kohinoor-steel-private-limited-v-f7f6c37a

## Summary

### Background

The case involves an appeal against an order dated 02.03.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata in C.P. (IB) No. 82/KB/2019, which decided I.A (IB) No. 74/KB/2022. The I.A was filed by the Appellant- Resolution Professional seeking reliefs including a declaration that the Provisional Attachment Order dated December 30, 2021, is null and void and not binding on the Corporate Debtor, and a stay of operation of the Provisional Attachment Order. The Provisional Attachment order passed by the PMLA Court was under challenge in the said I.A. The Adjudicating Authority dismissed the I.A. The appellant argued that the judgment of this Tribunal in “The Directorate of Enforcement v. Manoj Kumar Agarwal- Company Appeal

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## Facts

Ashok Kumar Sarawagi, the Resolution Professional of Kohinoor Steel Private Limited, filed an appeal against an order dated 02.03.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench. The Adjudicating Authority had dismissed I.A (IB) No. 74/KB/2022, which was filed by the Resolution Professional. The I.A sought a declaration that the Provisional Attachment Order dated December 30, 2021, was null and void and not binding on the Corporate Debtor, and a stay of operation of the Provisional Attachment Order. The Provisional Attachment Order was issued under the Prevention of Money Laundering Act (PMLA). The Resolution Professional challenged the order passed by the PMLA Court. The appellant relied on the judgment in “The Directorate of

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority (NCLT) erred in rejecting the I.A (IB) No. 74/KB/2022 filed by …

**Ratio:** The ratio is that the Adjudicating Authority did not commit any error in rejecting the

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**Reasoning:** The court reasoned that the issue raised was covered by the Three Member Bench Judgment

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**Interpretation:** This issue concerns the correctness of the Adjudicating Authority's decision to

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**Application:** The ratio and reasoning were applied to the specific facts of the case, leading

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## Parties

- **Judges:** Ashok Bh…; Shreesha…; +1 more
- **Appellants:** ASHOK KUMAR…
- **Respondents:** Kohinoor Steel…; Enforcement of…
- **Advocates:** Ratnanko B…; Prachi G…; +2 more

## Timeline

- **2021-12-30 — Provisional Attachment…**: Provisional Attachment Order dated…
- **2022-03-02 — Order of Adjudicating…**: Order dated 02.03.2022 passed by the Adjudicating Authority (National Company Law…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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