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Judgment
The matter was taken up today through Video Conferencing at 11:00 AM.
Heard Sh. P.K. Sachdeva, Ld. Counsel for the IRP through Video Conferencing today. The present application (IA No.120/2020) has been filed under Regulation 30 of the (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 issued by the Insolvency & Bankruptcy Board of India read with section 17, 18 & 19 of the IBC, 2016 for a direction to the concern local administration/ District Magistrate, Ranipet to assist the IRP in taking over the possession of the Plant of Leel Electricals Ltd. Situated at Plot No.S-21 & 22 Non SEZ, Phase III, Sipcot Road, Mugundarayapuram, Ranipet, Vellore District, Tamilnadu.
It is noted that the local administration, District Magistrate, Ranipet has not been made the party in the present application.
Ld. Counsel for the IRP has further intimated that the application has already been moved by him before the concern local authorities/ District Magistrate, Ranipet for necessary directions. He further prays a weeks time to bring on record the application, which he has moved before the concern local authorities/ District Magistrate, Ranipet, so that, this Tribunal may consider the same and pass appropriate order accordingly.
As prayed, put up on 4th June, 2020 before the Regular Court or through Video Conferencing.