The National Company Law Tribunal Ahmedabad Division Bench rejected the proceedings of the applicant as defective because the applicant failed to comply with the orders to rectify the defect and paid the imposed costs.
Proceedings C.P.(IB)/149(AHM)2023 are rejected.
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IN THE NATIONAL COMPANY LAW TRIBUNAL AHMEDABAD DIVISION BENCH COURT - 1
ITEM No.102 C.P.(IB)/149(AHM)2023
Proceedings under Section 7 IBC
IN THE MATTER OF: The Bank of Baroda Ltd V/s Setco Automotive
........Applicant
........Respondent
Order delivered on: 13/12/2023
Coram:
Mr. Shammi Khan, Hon’ble Member(J) Mr. Sameer Kakar, Hon’ble Member(T)
PRESENT:
For the Applicant : Mr. Ishtiaq Ali, Adv. For the Respondent : Mr. Roshan, Adv.
ORDER
It is seen that neither the order dated 28.06.2023 nor last order dated 30.10.2023, have been complied with by the applicant even today. Instead, the applicant submits that he has filed some IA for recall of the order dated 30.10.2023, whereby the cost of Rs. 25,000/- was imposed for continued non-compliance of the order dated 28.06.2023.
We do not find any reason either to further extend the time or to waive the cost, as requested by the Counsel for the applicant.
The applicant has failed to rectify the defect in the application within seven days despite various opportunities given in terms of Section 7(5)(b) proviso of the IBC. Further, it is also seen that the applicant is in complete disobedience of the orders of this Tribunal.
Accordingly, C.P.(IB)/149(AHM)2023 is rejected being defective.
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SAMEER KAKAR SHAMMI KHAN MEMBER (TECHNICAL) MEMBER (JUDICIAL)
Vinit
2 issues framed by the court
Whether the applicant failed to rectify the defect in the application within the stipulated time under Section 7(5)(b) proviso of the IBC.
Whether the applicant is in complete disobedience of the orders of the Tribunal.
1 provisions across 1 enactments
The Bank of Baroda Ltd
Setco Automotive
Shammi Khan
Sameer Kakar
As recorded by the court registry
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