JUDGEMENT

(Date: 24.2.2023) [Per.: Dr. Alok Srivastava, Member (Technical)]

1. The present appeal has been filed by the Appellant under section 61 of the Insolvency and Bankruptcy Code, 2016 (in short ‘IBC’) being aggrieved by the order dated 19.8.2019 (in short Impugned Order I) whereby an application under section 7 of the IBC was admitted by the Adjudicating Authority and order dated 20.2.2020 (Impugned Order-II) whereby the Adjudicating Authority (National Company Law Tribunal, Kolkata) has ordered for liquidation of the corporate debtor. Both the Impugned Orders have been passed by the Adjudicating Authority in CP (IB) No.1111/KB/2018.

2. It is the Appellant’s case that on an application under section 7 of IBC filed by State Bank of India (Respondent No.1), it was admitted by the Adjudicating Authority vide Impugned Order – I and this order was challenged by way of Revision Petition under Article 227 of the Constitution of India being CO No. 1257 of 2020 before the Hon’ble High Court of Calcutta, wherein the Hon’ble High Court vide order dated 15.10.2020 allowed the Revision Petition thereby setting aside the initiation of Corporate Insolvency Resolution Process (in sho