JUDGEMENT

(Virtual Mode) Justice M. Venugopal, Member (Judicial): Comp. App (AT) (CH) (INS.) No. 331 of 2022: Introduction: The `Appellant / Financial Creditor / 1st Respondent (in IA(IBC) No. 53 of 2022) / 3rd Respondent (in (IBC) No. 54 of 2022), has preferred the instant `Company Appeals (AT) (CH) (INS.) No. 331 & 332 of 2022’, being dissatisfied with the `impugned order’ dated 22.08.2022 in IA(IBC) Nos. 53 & 54 of 2022 (Petitioner) in CP(IB) No. 204/7/AMR/2019, passed by the `Adjudicating Authority’, (`National Company Law Tribunal’, Amaravati Bench, Mangalagiri).

2. The `Adjudicating Authority’, (`National Company Law Tribunal’, Amaravati Bench, Mangalagiri) in IA(IBC) Nos. 53 & 54 of 2022 (Petitioner) in CP(IB) No. 204/7/AMR/2019, while passing the `impugned order’ dated 22.08.2022, inter alia at Paragraphs 10 to 16, had observed the following:

resignation of ``Bafna’’ came into effect and whether the said resignation would exclude them from the category of related party and whether they can be members of CoC. The counsel for Bafna relies on a judgment of NCLAT in Sai prosperity Apartments vs.

ASK investments services limited which held that the