This is an appeal filed against the order dated 14.05.2024 in CP(IB) No.- 184/CHD/PB/2018, by which the Section 7 application filed by PNB was admitted. The appellant's counsel submits that another order was passed on the same date rejecting IA No. 585 of 2024 because the application had become infructuous due to the admission of CP. The appellant's counsel referred to IA No. 585 of 2024, where prayers were made to adjourn the matter beyond 23.05.2024 due to a pending High Court case (CWP No. 22367 of 2021) and to restrain the bank from auctioning assets. The appellant argues that the Adjudicating Authority did not consider IA-585 of 2024 and dismissed it as infructuous after the Section 7 application was admitted.
On 14.05.2024, an order was passed admitting a Section 7 application filed by PNB in CP(IB) No.- 184/CHD/PB/2018. On the same date, IA No. 585 of 2024 was rejected. The appellant had filed IA No. 585 of 2024 seeking adjournment of the matter due to a pending High Court case (CWP No. 22367 of 2021) and seeking a temporary injunction restraining the bank from auctioning assets. The bank itself has filed writ petitions (CWP- 11117 of 2022 and 22367 of 2021) in the High Court. Two assets of the Corporate Debtor have already been auctioned for Rs.136 crore (Approx). The Adjudicating Authority dismissed IA-585 of 2024 as infructuous after admitting the Section 7 application.
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Order passed admitting Section 7 application…
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This is an appeal filed against the order dated 14.05.2024 in CP(IB) No.- 184/CHD/PB/2018, by which the Section 7 application filed by PNB was admitted. The appellant's counsel submits that another order was passed on the same date rejecting IA No. 585 of 2024 because the application had become infructuous due to the admission of CP. The appellant's counsel referred to IA No. 585 of 2024, where prayers were made to adjourn the matter beyond 23.05.2024 due to a pending High Court case (CWP No. 22367 of 2021) and to restrain the bank from auctioning assets. The appellant argues that the Adjudicating Authority did not consider IA-585 of 2024 and dismissed it as infructuous after the Section 7 application was admitted.
On 14.05.2024, an order was passed admitting a Section 7 application filed by PNB in CP(IB) No.- 184/CHD/PB/2018. On the same date, IA No. 585 of 2024 was rejected. The appellant had filed IA No. 585 of 2024 seeking adjournment of the matter due to a pending High Court case (CWP No. 22367 of 2021) and seeking a temporary injunction restraining the bank from auctioning assets. The bank itself has filed writ petitions (CWP- 11117 of 2022 and 22367 of 2021) in the High Court. Two assets of the Corporate Debtor have already been auctioned for Rs.136 crore (Approx). The Adjudicating Authority dismissed IA-585 of 2024 as infructuous after admitting the Section 7 application.
Order passed admitting Section 7 application…
Counsel for the…
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