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Judgment
The issue under consideration is relating to CP/1167/2018 with respect to which matter was pending before the Hon'ble Supreme Court of India and in the meanwhile the CIR process was initiated against the Company viz., Evocon Pvt. Ltd. on 29.05.2019, the public announcement was made by the IRP.
The Hon'ble Supreme Court of India passed an order in WP (C) No. 714 of 2019 on 30.05.2019, and thereafter vide its order dated 09.08.2019 has disposed of the Petitions and the Civil Appeal by observing that stay order granted by the Hon'ble Supreme Court of India will continue until the NCLT takes up each Application filed by an allottee/home buyer to decide the same, in the light of the judgment delivered.
In view of it, the present Application has become infructuous and the order of status quo issued by this Authority on 11.06.2019 is hereby vacated with the direction to the Resolution Professional to proceed with the matter in accordance with the provisions of the I&B Code, 2016, expeditiously.
It is noted that the public announcement has already been made. Therefore, the Resolution Professional may take up the matter from the stage on which the status quo order was issued.
Accordingly, the Application stands disposed of.