Company Appeal (AT) (Insolvency) No. 663 of 2018
IN THE MATTER OF:
Goutham Chand Bafna & Anr. …Appellants
M/s. Hi-Style India (P) Ltd. …Respondent
The application submitted by appellant u/s 9 of the ‘Insolvency and Bankruptcy Code, 2016’ was rejected on the ground of the ‘existing dispute’ but the finding made therein is further that the subject matter is hit by res judicata which is uncalled for.
National Company Law Tribunal, Division Bench, Chennai was only supposed to consider the question as to whether there is a ‘debt’ and ‘default’ and whether there is a ‘pre-existing dispute’. The resolution process not being a litigation or money claim or suit, the Adjudicating Authority was not supposed to decide whether the subject matter was hit by res judicata or not.
It was decided that the subject matter is hit by res judicata. It was stated that it will be open to the Appellant to move before any appropriate Forum or any Authority on that count for appropriate relief uninfluenced by the order passed by the Adjudicating Authority having not decided the same. The appeal stands disposed of with aforesaid observations.
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