O R D E R

(Hybrid Mode)

09.12.2024:

A very interesting issue, which will be dealt with by us, in the instant Company appeal which emanates from the challenge given to the Impugned Order, which has been rendered by the Ld. Adjudicating Authority. While exercising its powers under Section 60 (5) of the I & B Code, to be read with Rule 11 of the NCLT Rules, being the Impugned Order dated 14.10.2024, as rendered in IA (IBC)/2329/2023, in CP. (IBA)/1099/CHE/2019. Precisely, the Appellant is aggrieved against, the directions which have been issued by the Ld. Adjudicating Authority, particularly, that as contained in para 4.15 of the Impugned Order, which is extracted hereunder: -

“4.15 We find that the appointed RP Ms. Renuka Devi has not followed and complied the order of Hon'ble NCLAT and this Tribunal and violated the extant Orders. We therefore order that the matter be referred to IBBI against RP Renuka Devi for appropriate and necessary action.”

2. The basic argument of the Ld. Counsel for the appellant would be confined to the directives, which have been given by the Ld. Adjudicating Authority by referring the matter to the Insolvency and Bankruptcy Board of India, (IBBI) as against the