AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Learned Counsel for the Appellant-Ms. Aastha Mehta and Mr. Abhijeet Sinha, Learned Sr. Counsel for the Respondent.
This Appeal has been filed against the Order dated 07th December, 2023 by which order the Adjudicating Authority has fixed the matter for 08th January, 2024 for further consideration and has closed the right to file Reply of the Appellant, the Corporate Debtor.
On 08th January, 2024, Appellant took adjournment from the Adjudicating Authority stating that Appeal against the order is pending and the matter has been posted for today before the Adjudicating Authority.
Learned Counsel for the Appellant submits that there was one time settlement between the parties and on the earlier dates were fixed, on which the issue of settlement was under consideration and subsequently stand was taken by the Financial Creditor that no settlement has taken place hence the reply could not be filed.
Learned counsel for the Financial Creditor submits that settlement was not even accepted by the Corporate Debtor therefore the affidavit has been filed stating that there is no settlement.
Learned Counsel for the Respondent very fairly submits that in the facts of the present case if the Corporate Debtor is permitted to file Reply within three days and the Adjudicating Authority be requested to consider the matter at an early date, party shall request for adjournment before the Adjudicating Authority which matter is fixed for today. It has now been informed by the Appellant that matter has been adjourned to 04th March, 2024.
In view of the fact that matter has now been adjourned for 04th March, 2024, we are of view that final opportunity be given to the Corporate Debtor to file a Reply within three days. Financial Creditor is given one week time to file Rejoinder. Matter being already fixed for 04th March, 2024, the Adjudicating Authority shall consider the application and decide the same as early as possible. Learned Counsel for the parties submits that no adjournment shall be sought by them. We make it clear that we are not expressing any opinion on the merits of the case, it is for the Adjudicating Authority to decide the same in accordance with law.
The Appeal is disposed of.