# In the matter of P. Mohanraj Vs Axis Bank Limited

> NCLAT judgment dated 2022-06-29. Citation: TCN-2022-NCLAT-00405. The case originates from an appeal against an Impugned Order dated 30.05.2022 passed by the…

- **Court:** NCLAT
- **Order date:** 29 Jun 2022
- **Citation:** TCN-2022-NCLAT-00405
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/p-mohanraj-vs-axis-bank-limited-17413d83

## Summary

### Background

The case originates from an appeal against an Impugned Order dated 30.05.2022 passed by the National Company Law Tribunal, Division Bench-I, Chennai. The order pertains to IA(IBC)/310(CHE)2022 & IA/1266/IB/2020 in MA/936/2019 in CP/507/IB/2017. The appeal is filed under Section 61 of the Insolvency and Bankruptcy Code, 2016.

## Facts

P. Mohanraj and Anr are the Appellants in this case against an Impugned Order dated 30.05.2022. Axis Bank Ltd., & Ors. are the Respondents. The Impugned Order arises from IA(IBC)/310(CHE)2022 & IA/1266/IB/2020 in MA/936/2019 in CP/507/IB/2017 passed by the National Company Law Tribunal, Division Bench-I, Chennai. Mr. V. Mahesh was the former Resolution Professional for the Corporate Debtor. The appeal is filed under Section 61 of the Insolvency and Bankruptcy Code, 2016. The key facts revolve around the procedural aspects of filing documents, including 'Vakalat', 'Reply', and 'Rejoinder'.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's Impugned Order dated 30.05.2022 should be stayed or modified …

**Ratio:** The principle of maintaining the status quo pending appeal is applied, ensuring that the

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**Reasoning:** The court reasoned that maintaining the status quo would prevent any potential prejudice

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**Interpretation:** This issue involves interpreting the appellate tribunal's power to grant

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**Application:** In this specific case, the court decided to maintain the implementation of the

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## Parties

- **Judges:** M. Venu…; Kanthi Na…; +1 more
- **Appellants:** P. Moha…
- **Respondents:** Axis Ban…
- **Advocates:** P.S. R…; Vipin Wa…; +1 more

## Timeline

- **2022-05-30 — Impugned Ord…**: Date of the Impugned Order passed by the National Company Law Tribunal, Division Bench-I,…
- **2022-06-29 — Hearing…**: Hearing where the court heard the Senior Counsel for the Appellant and granted time to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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