CA Ramasamy Shanmuggam Vs Insolvency and Bankruptcy Board of India (NCLAT Chennai)
NCLAT Chennai held that liquidator cannot resort to proceedings under section 61 of Insolvency and Bankruptcy Code for the purposes of the challenging direction issued to the IBBI.
Facts- The Appellant who is the Official Liquidator of the Corporate Debtor M/s RLS Alloys Pvt. Ltd, puts a challenge to the Impugned Order dated 02.06.2022, as it has been passed by the Adjudicating Authority. As per the relief clause which has been modulated by the appellant in the appeal, there is a partial challenge given to the Impugned Order that is limited to the extent of the observation which has been made in para 30(vii) of the Judgment, whereby the directions has been issued to the IBBI to conduct detailed inspection regards the conduct of Liquidator and the records, pertaining to the Corporate Debtor in order to find out the irregularities in the process. The Appellant contends that the said observation made in para.30(vii) is wrong with eyes of law for the reason being that, prior to passing of the order, no opportunity of explaining or defending himself was provided, as to whether at all based on the evidence on record, the conduct of the liquidator can be said to be unjustified! and whether the remarks made for taking necessary decision of the case is at all an integral part of the proceedings were, justified.
