AI Structured Summary
Not yet generated for this judgment
Judgment
These are two company appeals.
A. Company Appeal (AT) (CH) (Ins) No.656/2025 :
In Company Appeal (AT) (CH) (Ins) No.656/2025, the Appellant questions the propriety of the impugned order dated 28.11.2025, as it has been passed in IA (IBC) No.1481/2025, as preferred by the Appellant in CP (IB) No.199/7/HDB/2019, whereby the interlocutory application preferred by the Appellant, for staying all the further proceedings in pursuance to the e-auction proceedings, as held on 28.08.2025, had been dismissed.
As far as the Company Appeal (AT) (CH) (Ins) No.656/2025 is concerned, since as of now the e-auction has been finalised and the same has already been challenged in the connected Company Appeal. In that eventuality, we need not require to venture on merits into the Company Appeal (AT) (CH) (Ins) No.656/2025, because that was only seeking for restraining the further proceedings in pursuance to the e-auction process as held on 28.08.2025, which has gone much further, with the confirmation of sale as made in favour of Respondent No.2 (the Successful Bidder). Hence, Company Appeal (AT) (CH) (Ins) No.656/2025, would be laid to rest, without venturing on merits of the same. The Company Appeal would stand ‘closed’.
B. Company Appeal (AT) (CH) (Ins) No.657/2025 :
In the connected Company Appeal (AT) (CH) (Ins) No.657/2025, the Appellant questions the impugned order dated 28.11.2025, that has been passed in IA (IBC) No.1481/2025, as preferred in CP (IB) No.199/7/HDB/2019, whereby the interlocutory application preferred by the Appellant, challenging the e-auction held on 28.08.2025, had been rejected.
The Respondents have already put an appearance. They may file their respective counter affidavits to the company appeal within a period of 2 weeks from today.
List this company appeal ‘For Orders’ on 18.02.2026. By that time the learned counsel for the Appellant is requested to ensure the supply of the certified copy of the impugned order, which is under challenge in Company Appeal (AT) (CH) (Ins) No.657/2025.
Let the copy of this order be placed in both the company appeals.