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Judgment
Shreesha Merla, Member (T)
This I.A. Application 2226 of 2021 in Company Appeal (AT) No. 104 of 2021 is preferred by the Applicants 'Monideva Consultants LLP', (the first Applicant) and 'Mr. Rajat Jhunjhunwala, (the second Applicant) Partner of the first Applicant and Director of JLS Realty Pvt. Ltd.' (arrayed as the second Respondent). The Applicants herein are the first and second Appellants in Company Appeal (AT) No. 104 of 2021. By this Application, the Applicants seek a direction to restrain the Respondents by a temporary Order of injunction from selling, transferring, encumbering, creating third party rights or disturbing the possession of the said property and further sought to restrain the Respondent from making any Application and/or writing before the Slum Rehabilitation Authority for change of developer in any manner whatsoever. The Appellants also further sought for the following prayers to grant Status Quo ante from 24.02.2021 with respect to the Shareholding of R-1, Board of Directors of R-2; direct Status Quo to be maintained with respect to the shareholding of R-2 Company; to restrain the Respondents from transferring any investment/asset of R-1 and R-2 in favour of any third party or creating third party interest in R-1 and R-2 in any manner.
It is significant to mention that the main Company Appeal (AT) No. 104 of 2021 has been preferred by the Appellants/Applicants herein aggrieved by the Order of the NCLT dated 29.07.2021, in CA-147 and 149 of 2021 in CP159(MB)/2021, whereby the NCLT in paras 2 to 4 observed as follows:-
"1. Mr. Sudipto Sarka, Mr. Virender Ganda and Mr. Satvik Verma, Ld. Sr. Counsel a/w Mr. Vishal Ganda, Mr. Ayandeb Mitra, Mr. Anand Singh Sengar and Ms. Akanksha Mathur, Ld. Counsel for the Petitioners present. Mr. Janak Dwarkadas and Mr. Venkatesh Dhond, Ld. Sr. Counsel a/w Mr. Rohan Kelkar, Mr. Yash Momaya, Mr. Sajit Suvarna, Mr. Ryan D'Souza and Ms. Anjali Shah i/b DSK Legal for R2, R3, R6 & R7 present. Mr. Soumendra Nath Mookherjee, Ld. Sr. Counsel a/w Mr. Kunal Vajani, Mr. Kunal Mimani, Mr. Ketul Hansraj and Mr. Shubhang Tandon, Ld. Counsel for R1, R4 & R5 present.
Heard the Ld. Sr. Counsel for the Petitioners (P1&P2). Heard briefly, the reply of Respondents; Mr. Janak Dwarkadas, Mr. Soumendra Nath Mookherjee and Mr. Venkatesh Dhond, Ld. Sr. Counsel. This Bench is not inclined to pass any interim orders at this stage, as requested by the Petitioner.
All the parties are directed to submit their respective pleadings in two hard copies with Court Officer.
List this matter for final hearing on 04.10.2021."
(Emphasis Supplied)
This Tribunal vide Order dated 13.09.2021 has directed for all the Respondents to file their replies and the Appellants to file their Rejoinder and complete the pleadings and posted the matter to 12.11.2021.
In the meantime the Applicants preferred this Interim Application seeking the aforenoted reliefs.
Learned Counsel appearing for the second Respondent contended that he received the copy only at 6:00 AM in the morning and vehemently opposed any Order of Status Quo saying that it would affect third party rights and sought some time to file a Reply. It is pertinent to mention that till date no Interim Order has been passed by NCLT and this Appellate Tribunal too has not passed any Interim Order. Taking into consideration the aforenoted facts and the submission of the second Respondent seeking time to file his Reply and his strong opposition to the Order of Status Quo, in the interest of justice, we find it fit to grant ten days time to the Respondents to file their Reply. We are not inclined to order any Status Quo at this stage.
The matter is posted to 22nd October, 2021, for hearing both parties on this Interim Application.