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Judgment
Per: Justice Rakesh Kumar Jain (Oral)
Company Appeal (AT) (Ins.) 1211 of 2023:- This appeal is directed against the order dated 21.07.2023 passed by the Ld. NCLT, Mumbai by which an application bearing I.A. No. 1007 of 2023 filed by the RP under Section 30 (6) read with Section 31 of the Insolvency & Bankruptcy Code, 2016 for the approval of resolution plan has been allowed.
Company Appeal (AT) (Ins.) 1308 of 2024:- This appeal is directed against the order dated 07.05.2024 passed by the Ld. NCLT, Mumbai by which an application bearing I.A. No. 1263 of 2022 filed by the appellant under Section 61 of the Insolvency & Bankruptcy Code, 2016 has been dismissed.
While both the appeals were pending before this court, the SRA, namely, Darwin Platform Infrastructure Ltd. itself came in appeal bearing Comp. App. (AT) (Ins.) No. 2012-2013 of 2024, aggrieved against the orders passed by the Adjudicating Authority, rejecting the I.A. No. 1956 of 2024 filed by the SRA and allowing I.A. No. 2520 of 2024 filed by the Union Bank of India. The appeal was dismissed by this court on 06.03.2025 with the following observations:
“We are of the view that Adjudicating Authority has rightly after considering the submissions of the parties taken a decision to reject the I.A.1956/2024. Coming to the order passed by the Adjudicating Authority on I.A.2520/2024, after dismissal of the application I.A.1956/2024 by the SRA, Adjudicating Authority did not commit any error in restoring the CIRP and excluding certain time.”
Learned Senior Counsel appearing on behalf of the appellant in both the appeals has submitted that as of now the present appeals have become infractuous because once the CIRP has been restored by the order dated 06.03.2025 passed in the appeals filed by the SRA itself, the plan submitted having been approved by the Adjudicating Authority does not survive.
He thus prays for withdrawal of these appeals with liberty to press the application, if any pending for certain directions/ reliefs and also for filing an application for exclusion of these properties allegedly owned by the appellant from the asset of the Corporate Debtor.
On the request of the counsel for the appellant, the present appeals are hereby dismissed as withdrawn, however, with the liberty aforesaid.