NCLAT: Resolution Plan Approved by Committee of Creditors is Binding on All Stakeholders  ||  NCLAT: In Case of Personal Guarantor, Date of Default Depends on Contract of Guarantee’s Terms  ||  Cal. HC: Cannot Label Regulatory Measures Under GST Act as Violative of Fundamental Right to Trade  ||  Cal. HC: Cannot Label Regulatory Measures Under GST Act as Violative of Fundamental Right to Trade  ||  Gau HC: Genuineness of Credit Recd by Assessee from Share Appli. Money is a Question of Fact Not Law  ||  SC: For Central Excise Tariff Act, Coconut Oil in Small Quantities Classifiable as ‘Edible Oil’  ||  SC: Court Ordering Re-Investigation Against Acquitted Accused Violates Principle of Double Jeopardy  ||  SC Urges Parliament to Secure Right of Survivorship of Tribal Women  ||  SC: NCR States to Form Teams to Monitor Compliance of GRAP Measures  ||  SC: Beneficial Laws for Women are Not Means to Chastise, Threaten the Husband    

DCB Bank Limited vs. Mr. R. Sadasivan - (NATIONAL COMPANY LAW APPELLATE TRIBUNAL) (25 Jan 2023)

Presumption of due service arises, when 'Notice' is sent to the proper and correct address

MANU/NL/0060/2023

Insolvency

The 'Appellant' / 'Bank' has preferred the instant Comp. App. before present 'Tribunal' as an 'Aggrieved Person' being dissatisfied with the 'impugned order' passed by the 'Adjudicating Authority', whereby and whereunder, the 'Appellant' / 'Bank' was directed to refund a sum of Rs.11,30,40,034 to the 'Corporate Debtor's' Account in the 'Corporate Insolvency Resolution Process'.

When 'Notice' is sent to the 'proper' and 'correct address' of the 'Respondent', where he actually and voluntarily resides or carries on business or personally works for gain, there arises a 'presumption' of 'due service'.

At this stage, present 'Tribunal', on going through the 'order' is of the earnest opinion that the 'Appellant' / 'Bank' had candidly admitted that the 'Appellant' / 'Bank' was served 'Notices' not only to its 'Corporate Branch Office' and also, other 'Alternative Offices' on 16th July, 2021 and the same was duly served on 17th July, 2021 and 22nd July, 2021 respectively. It cannot be said that the Appellant was not provided with an 'enough opportunity' or 'adequate opportunity' to take its own decision in the subject matter in issue.

In the instant case, although the Appellant, has come out with a 'specific plea' that only due to 'Covid-19 Pandemic', the Appellant had 'skeletal staff' operation, both at the 'Corporate Office, Branch Office, etc. and that were the only reasons for the Appellant was not quite enough to enter its appearance in the 'subject matter' of the case before the 'Adjudicating Authority' ('Tribunal').

In spite of the reasons ascribed on behalf of the Appellant that, it was prevented because of 'Covid-19 Pandemic' and also added further the Staff members were in operation only in a 'skeletal manner' both at the 'Corporate and Branch Office', yet, present 'Tribunal', is of the considered view that the said reason of 'Pandemic' cannot hold water to and in favour of the Appellant and, especially, in the teeth of the Notices sent to the Bank's Corporate Office, Branch Office and Alternative Office were duly served on 17th July, 2021 and 22nd July, 2021, etc. when once the 'Notice' to a 'Person' / 'Entity' / 'Organisation' was duly served in terms of the NCLT Rules, 2016, then, the 'Adjudicating Authority' ('Tribunal') is left with no action but to Record that the Notices sent were held sufficient. Application dismissed.

Tags : DIRECTION   REFUND   NOTICE  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved