JUDGMENT

ASHOK BHUSHAN, J.

This appeal has been filed challenging the order dated 22.12.2023 passed by the NCLT (National Company Law Tribunal, New Delhi, Court – III) in IA No. 2162/2020, which was filed by Resolution Professional (RP) under Section 19 (2) read with Sections 14 , 43 & 74(2) of the Insolvency and Bankruptcy Code, 2016 (for short the ‘Code’ or the ‘IBC’) read with Rule 11 of the NCLT Rules, 2016. By the impugned order, adjudicating authority has allowed the application directing the appellant who was Respondent No. 3 in the application to reverse the amount of Rs. 8,92,980/- into the account of the corporate debtor. Appellant aggrieved by the said order has come up in this appeal.

2. Brief facts of the case necessary to be noticed for deciding the appeal are:

i. Corporate Insolvency Resolution Process (CIRP) against the corporate debtor M/s. Trend Flooring Pvt. Ltd. commenced vide order dated 09.10.2019 in which Interim Resolution Professional (IRP) was appointed who was confirmed as the RP.

ii. A loan facility was obtained by the corporate debtor along with Mr.Arvind Narayan Singh co-applicant for purchase of vehicle Innova/Zx AT vide loan account No. LADEL00035353966.