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Judgment
This Appeal has been filed against the Order dated 09.11.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench (Court-II). After noticing the submission of Bank that Corporate Debtor has approached the Bank for Settlement Proposal which Settlement need time till January, 2023 and the matter be adjourned, the Adjudicating Authority fixed the matter on 02nd December, 2022 with the observation that no further adjournment shall be given and the matter will be decided based on the documents available on the DMS or dismissed for want of non-prosecution.
We have heard the Learned Counsel for the parties. Learned Counsel for the Bank submits that Settlement Proposal has been received which is under consideration however the final decision by the Bank shall take some time hence the request was made for taking the matter in January, 2023. We are, in the facts of the present case, of the view that ends of justice will be served in disposing of this Appeal observing that the matter be fixed before the Adjudicating Authority on 31st January, 2023, on which date, Adjudicating Authority may proceed to pass appropriate Order, accordingly.
The Appeal is disposed of, accordingly.