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Judgment
22.07.2025 : This appeal is directed against the order dated 16.05.2024 by which an application filed by the Operational Creditor against the CD before the Tribunal, has been admitted.
On 24.05.2024, at the time of preliminary hearing, the following order was passed by this Court :-
“Learned counsel for the appellant submits that the invoices relied in the application under Section 9 related to the year 2015 to 2016 and the acknowledgment was for Rs.73 Lacs only which is relied on the email sent by the appellant, there is neither an acknowledgment for the amount which was claimed nor the said amount was due on the appellant. It is submitted that application had been filed in the year 2021. Issue notice. Let Reply be filed within three weeks and Rejoinder, if any, be filed within two weeks thereafter. List this appeal on 19.07.2024. In the meantime, in pursuance of the order dated 16.5.2024 no further steps shall be taken.”
Counsel for the Appellant had submitted that a settlement has been arrived at between the parties for which an application has been filed before the Tribunal. An order was passed on 07.07.2025 which read as under:-
“This appeal has arisen from an order by which an application filed under Section 9 has been admitted. At the time of issuance of notice in the appeal on 24.05.2024, this court had passed the following order “In the meantime, in pursuance of the order dated 16.5.2024 no further steps shall be taken”. Counsel for the appellant has submitted that during the pendency of this appeal, a settlement was arrived at between the parties on the basis of which an application under Section 12A of the Code was supposed to be filed. Ms. Ritu Agarwal, appearing on behalf of the RP has submitted that the application under Section 12A has already been filed which has not been listed because it is lying in scrutiny. Counsel for the appellant prays for two weeks’ time to seek further instructions in this matter. On her request, adjourned to 22.07.2025. List this case on 22.07.2025 in the category of fresh case.”
Counsel for the Appellant has also filed consent terms dated 16.01.2025, which is duly signed by both the parties and their advocates.
Counsel for the Appellant has submitted that the necessary application on Form FA in terms of Section 12A of the Code and Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons), Regulations, 2016 has already been filed through the IRP before the Tribunal which is pending in scrutiny. It is submitted that the said application shall be pursued accordingly but the present appeal has become infructuous.
Counsel for the Appellant has also requested that the order dated 24.05.2024 passed in this appeal may be allowed to continue till the application filed under Section 12A r/w Regulation 30A is decided by the Tribunal in one way or other.
After hearing Counsel for the appellant and keeping in view the facts and circumstances narrated herein before, the present appeal is hereby disposed of as having become infructuous. However, the order dated 24.05.2024 recorded as “In the meantime, in pursuance of the order dated 16.5.2024 no further steps shall be taken” shall continue till the Tribunal, seized of the application filed by the IRP under Section 12A r/w Regulation 30A, is decided in one way or other.