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Judgment
ORDER
05.07.2022: Heard both sides.
According to the Learned Senior Counsel for the Appellant / Applicant that IA No.252 of 2021 in CP(IB) No.305 (BB)/2019, on the file of the ‘Adjudicating Authority’ (National Company Law Tribunal, Bengaluru Bench, Bengaluru), is being adjourned from 14.08.2021 and from 21.04.2022, then adjourned to 24.05.2022 and thereafter the matter got adjourned to 02.06.2022 and subsequently now the matter is slated for ‘Hearing’ on 26.07.2022.
The ‘limited relief’ sought for by the Appellant / Applicant before this ‘Appellate Tribunal’ is that the Appellant / Applicant will be satisfied, if a direction simpliciter being issued by this ‘Tribunal’ to the ‘Adjudicating Authority’ (National Company Law Tribunal, Bengaluru Bench, Bengaluru) to take up IA No.252 of 2021 in CP(IB) No.305 (BB)/2019, when it comes for ‘Hearing’, and to ‘dispose of’ the said ‘Interlocutory Application’, after ‘Hearing’ the Learned Counsels representing the parties, at an early date, and an ‘Order’ being passed ‘on merits’.
For early taking up of the matter, during the next date of ‘Hearing’ on 26.07.2022 in respect of IA No.252 of 2021 in CP(IB) No.305 (BB)/2019, there is ‘no objection’ on the side of the ‘Respondent’ / ‘Resolution Professional’, who is represented through the Learned Counsel Mr. N.P. Vijayakumar.
In view of the fact that IA No.252 of 2021 in CP(IB) No.305 (BB)/2019 on the file of the ‘Adjudicating Authority’ (National Company Law Tribunal, Bengaluru Bench, Bengaluru) is pending ever since from 14.08.2021 and it is being adjourned to ‘different dates’, on some pretext or the other, this ‘Tribunal’ quite in the ‘fitness of things’, ‘deems it fit and proper’ in directing the ‘Adjudicating Authority’ (National Company Law Tribunal, Bengaluru Bench, Bengaluru) to take up IA No.252 of 2021 in CP(IB) No.305 (BB)/2019 on 26.07.2022 and to dispose of the said ‘Application’ on ‘merits’ by passing a ‘reasoned’, ‘speaking order’ in ‘qualitative and quantitative terms’, after providing ‘adequate opportunity’ and also adhering to the ‘principles of Natural Justice’ in true ‘Letter and Spirit’.
In any event, the ‘Adjudicating Authority’ (National Company Law Tribunal, Bengaluru Bench, Bengaluru) shall endeavour to dispose of the said IA No.252 of 2021 in CP(IB) No.305 (BB)/2019, preferably within ‘four weeks’ from the date of completion of arguments in the matter.
With the above said ‘observations’ and ‘directions’, the ‘Instant Company Appeal (AT)(CH)(Ins) No.219/2022’ stands disposed of. No Costs.