National Company Law Appellate Tribunal
Sriram Kandoi vs Karnataka State Financial Coprporation & Ors on 24 September 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 816 of 2020
IN THE MATTER OF:
Sriram Kandoi
…Appellant
Versus
Karnataka State Financial Corporation & Ors.
…Respondents
Present:
For Appellant:
Mr. Kumar Dishyant Singh, Advocate.
For Respondents:
Mr. K V Balakrishnan and Mr. T. Ravichandran, Advocates for Liquidator.
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O R D E R
(Through Virtual Mode) 24.09.2020: Learned counsel for the Appellant submits that subsequent to the passing of impugned order, the Adjudicating Authority (National Company Law Tribunal), Bengaluru Bench has condoned the delay. However, notwithstanding that we find that the claim of Appellant having been rejected by the Liquidator under Section 40 of the I&B Code, appeal against such rejection would lie before the Adjudicating Authority (National Company Law Tribunal) under Section 42 of the I&B Code. Faced with this situation, learned counsel for the Appellant offered to withdraw the appeal. The appeal is dismissed as withdrawn.
[Justice Bansi Lal Bhat] Acting Chairperson
[Justice Anant Bijay Singh Member (Judicial)
[V. P. Singh] Member (Technical) am/gc