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Judgment
ORDER
IA/3698/2024:-This is an application filed under Section 60(5) of the IBC, 2016 read with Rule 11 of the NCLT Rules, 2016, in which one of the prayers is seeking direction to the Liquidator not to proceed with the E-Auction of the Corporate Debtor and withdraw the E-Auction notice. We have heard the submissions made by the Ld. Counsels on behalf of the Applicants and Ld. Senior Counsel on behalf of the Liquidator. Ld. Counsel on behalf of the Greater NOIDA Authority also appears and has submitted various objections on the process of the E-Auction of the Corporate Debtor. It is the contention of the Ld. Counsel on behalf of the Greater NOIDA Authority that the Liquidator has not admitted the claim of the Greater NOIDA Authority in terms of the judgment of the Hon’ble Supreme Court in Prabhjit Singh Soni case and without admitting their claim and making them as a party of the Stakeholders Consultation Committee, the Liquidator has taken further steps.
The Liquidator is directed to examine the claim of the Greater NOIDA Authority in terms of the judgment of the Hon’ble Supreme Court in Prabhjit Singh Soni case and take all appropriate actions including making the Greater NOIDA Authority as a member of the Stakeholder Committee if they are entitled to do so as per law. We direct that till this issue is decided, further proceeding in respect of E-Auction shall not take place. List this application on 27.08.2024 at 11:30 am.
List all other applications on 27.08.2024 at 11:30 am.