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Judgment
H.S. Thangkhiew, J
On 07-12-2021, learned counsel for the petitioner had sought time to take instructions as to the import of the order of the Hon'ble Supreme Court dated 22-11-2021. However, today also she has not been able to obtain the instructions.
Ms. R.Satein, learned counsel is present on behalf of the respondents.
The instant application is filed under Article 227 impugning the proceedings of DY. No. 3 (211) of 2018, initiated under the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal, Guwahati Bench by the respondents-Bank.
It appears that the said proceedings were carried before the Hon'ble Supreme Court which had initially stayed the proceedings of the instant case. By order dated 22-11-2021, the Hon'ble Supreme Court had passed the following order which reflects that in the course of the proceedings under the Insolvency and Bankruptcy Code, 2016, the secured debts have been paid. For the sake of convenience, the order is reproduced herein below:
"ITEM NO. 32 Court 16 (Video Conferencing) SECTION XIV
SUPREME COURT OF INDIA
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s). 8739/2019 (Arising out of impugned final judgment and order dated 18-02-2019 in CRP No. 4/2019 passed by the High Court of Meghalaya at Shillong)
BANK OF INDIA & ANR. Petitioner (s)
VERSUS
M/S RNB CEMENTS PVT. LTD. & ANR. Respondent (s)
Date : 22-11-2021 This petition was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE SANJIV KHANNA
HON'BLE MS. JUSTICE BELA M. TRIVEDI
For Petitioner (s) Mr. Jitendra Kumar, AOR
For Respondent(s)
UPON hearing the counsel the Court made the following
ORDER
Learned counsel for the petitioners states that in the course of the proceedings under the Insolvency and Bankruptcy Code, 2016, secured debts have been paid.
In view of the aforesaid position, we do not think anything further orders are required to be passed in the present special leave petition except observing that the interim order passed by us is made absolute and it is clarified that the pendency of the writ petition before the High Court would not in any way effect the order passed by the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016.
The Special Leave Petition is disposed of.
All pending applications stand disposed of.
On perusal of the said order, it reflects that nothing survives for consideration in the instant application in view of the order of the Hon'ble Supreme Court.
Accordingly, the proceedings are closed and matter stands disposed of.