Case Law Details
Indian Bank Vs Nimitaya Hotel & Resorts Private Limited (NCLT Delhi)
NCLT Delhi held that seeking of same reliefs in two parallel applications against the same party is barred by doctrine of Res Sub judice. Accordingly, the applicant penalized with cost of Rs. 1 Lakhs for multiplicity of proceedings and wastage of precious judicial time.
Facts- The Indian Bank (Financial Creditor) had filed a petition u/s. 7 of the Insolvency and Bankruptcy Act, 2016 (IBC), for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor M/s. Nimitaya Hotel & Resorts Pvt. Ltd. The said application was admitted by the Tribunal and Mr. Navneet Gupta was appointed as Interim Resolution Professinal (IRP) of the corporate debtor.
The Applicant/ Suspended Director (Mr. Sanjeev Mahajan) has filed an application bearing I.A. No. 2611 of 2022 before the Adjudicating Authority u/s. 65 of IBC, seeking imposition of cost on the Financial Creditor for an amount of Rs. 1 Crore; direction to the CoC to re-consider the settlement proposal of the Applicant; and direction to the CoC and the Resolution Professional of Corporate Debtor to keep the CIRP and finalization of Resolution Plan in abeyance till disposal of the Application.
Conclusion- Noted that during the pendency of IA No. 2611 of 2022, which was filed on 28.05.2022, the Applicant has filed the present IA No. 3204/2022 on 12.07.2022. In our considered view, the same reliefs cannot be sought in two parallel Applications against the same party.
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