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Judgment
This application is filed by Respondent No. l for early hearing of I.A. No. 5518/2023.
In brief, Respondent No. 1 filed an application under Section 9 of the IBC, 2016 (In short ‘Code’) which was admitted on 12.07.2023. The Corporate Debtor filed an appeal bearing CA (AT) (Ins) No. 887 of 2023 in which notice was issued on 14.07.2023 and stay was granted till the next date of hearing.
This case was being adjourned earlier because of an arbitration award passed in favour of the Applicant/Respondent No. 1 on 01.06.2022 which was challenged by the present Appellant before the Hon’ble Single Bench of the Delhi High Court. The said objection filed under Section 34 of the Arbitration and Conciliation Act, 1996 (in short ‘Act’) was dismissed on 05.04.2024.
Counsel for the Applicant has submitted that this case was last fixed for hearing on 03.05.2024 and has been adjourned to 24.05.2024. It is argued that since the objection of the Appellant, filed under Section 34 of the Act, has already been rejected, therefore, the stay granted by this Court vide order dated 14.07.2023 deserves to be vacated. He has thus prayed that the date of hearing of the main appeal and the application bearing I.A No. 5518 of 2023 which is now posted for hearing on 24.05.2024 may be preponed to an early date.
Counsel appearing on behalf of the Appellant on advanced notice given by the Applicant has submitted that against the order dated 05.04.2024, the Appellant had filed an appeal under Section 37 of the Act before the Hon’ble Division Bench of the High Court of Delhi in which the arguments were heard and order was reserved by the Hon’ble Division Bench on 08.04.2024. It is also submitted that on 03.05.2024 this Court had passed the order that “pleadings are complete. List for hearing on 24.05.2024”. It is further submitted that it is only a case of admission of petition filed under Section 9 of the Code in which there is no such urgency.
We have heard Counsel for the parties and after perusal of the record are of the considered opinion that the present application is totally misconceived because after the dismissal of the objection filed under Section 34 of the Act, the Appellant filed appeal under Section 37 of the Act which is still pending adjudication before the Hon’ble Division Bench of the Delhi High Court in which order is yet to be passed. Moreover, the next date of hearing in this case is not very far off as the case is listed on 24.05.2024.
In view of the aforesaid facts and circumstances, the present application is hereby dismissed.