- (1.) Ld. Counsel for the financial creditor is present. No one is present from the corporate debtor's side. Ld. Counsel for the financial creditor has filed Board Resolutions which is relating to authorisation for filing of winding up petition and as per decision of the larger Bench in the case of ICICI Bank -versus- Pallogix Infrastructure Pvt. Ltd. It was held that for initiation of corporate insolvency process there should be specific authorisation.
(2.) Petitioner has not filed such specific authorisation to initiate corporate insolvency process. Ld. Counsel for the petitioner prayed that time may be given for submission of Board Resolution for specific authorisation for initiation of corporate insolvency process.
(3.) Prayer is allowed.;