Issue of action of Contempt in case of IRP does not want to function as IRP of the Corporate Debtor – Aashray Social Welfare Society Vs. Saha Infratech Pvt. Ltd. – NCLAT New Delhi

NCLAT directs to the Ld. Adjudicating Authority to urgently pass whatever orders the Adjudicating Authority wants to pass with regard to appointment of IRP in place of Mr. Arun Jain who it is stated has conveyed unwillingness to take up the assignment. If the Adjudicating Authority wants to take action of Contempt regarding the conduct of IRP Mr. Arun Jain it would be open for the Adjudicating Authority to proceed with the steps regarding Contempt but CIRP initiated on 28.02.2020 cannot be kept in abeyance. The Adjudicating Authority can consider referring matter of the IRP Mr. Arun Jain to IBBI also if it wants, but should immediately pass Orders to substitute.

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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