AI Structured Summary
Not yet generated for this judgment
Judgment
11.02.2025: Heard learned counsel for the Appellant as well as learned counsel for the Respondent and SRA. This appeal filed by the Resolution Professional is confined to limited prayer with regard to certain observations made against the Resolution Professional in the order dated 30.04.2024, which were sought to be deleted in IA No.2379/ND/2024 filed by the Resolution Professional, which IA has been rejected by the Adjudicating Authority by order dated 14.05.2024.
Learned counsel for the Appellant submits that in observations made in the order dated 30.04.2024 in Para 2(n), Para 6 in last sentence and Para 7 use of expression ‘Applicant’ for Resolution Professional was not correct since the statement which was made was by the Suraksha ARC, a member of the CoC. Although the Resolution Professional has brought correct facts before the Adjudicating Authority regarding Fire NOC having expired, however, the Applicant has never prayed that the Resolution Plan be rejected and liquidation proceeding initiated. Learned counsel for the Appellant has referred to the Written Submission which was filed by Suraksha ARC at page 53. Para 4 of the Written Submission where following was pleaded by Suraksha ARC:
“4. Further, during the CIRP the Corporate Debtor ceased to be a going concern, and the fire NoC has expired and consequently all hospital licenses have also lapsed. Same cannot not be renewed unless the hospital went through substantial structural changes. Therefore, the Resolution Plan stands frustrated and the same cannot be effectively implemented now.”
When we look into the observations made by the Adjudicating Authority, the said observations as contained in Para 4 of the Written Submission has been imputed to the Resolution Professional. We, thus, are of the view that the application which was filed by the Resolution Professional deserved to be allowed.
Learned counsel for the SRA submits that the Resolution Professional has also agreed before the Adjudicating Authority that in view of there being no fire NOC plan is not implementable.
Be that as it may. Applicant was only aggrieved with observation in so far as the Adjudicating Authority has observed that it was Resolution Professional who prayed for rejection of the Resolution Plan. Hence, the Application filed by the Resolution Professional deserve to be allowed. Order dated 14.05.2024 is set aside. IA No.2379/2024 is allowed to the above extend. Appeal is disposed of accordingly.