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Tribunals and CommissionsDivision Bench(2021) 11 NCLAT CK 0024

Subhlaxmi Compusis Pvt. Ltd vs IDFC First Bank Ltd. & Ors

National Company Law Appellate Tribunal · Decided on 9 November 2021

HON’BLE JUDGES
Anant Bijay Singh, Member (J) · Shreesha Merla, Member (T)
CASE NUMBER
Company Appeal (AT) Insolvency No. 1475 of 2019, 33 of 2020

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Judgment

10 paragraphs · 347 words
1.

Mr. Amit Kasera, Advocate appears on behalf of Appellant in Com. App. (AT) Ins. No. 1475 of 2019, Mr. Navneet Gupta, Advocate appears on behalf of Respondent No. 1 and Mr. Santosh Kumar, Advocate appears on behalf of Respondent No. 3 and 4.

2.

Nobody appears on behalf of Respondent No. 2-Sunrise TSR Factory although Notice has been issued and delivered on 06.01.2020 and affidavit of service has also been filed by the Appellant on 04.01.2020. In view of the service report, the matter has now been proceeded ex-parte against Respondent No. 2 in Com. App. (AT) Ins. No. 1475 of 2019. Reply-Affidavits on behalf of Respondent Nos. 1, 3 & 4 have also been filed.

4.

On the last date i.e. 12.03.2020, Parties were directed to prepare and keep with themselves list of dates and events (not more than three pages) with reference to page nos.

5.

Due to Covid-19 Pandemic, the matter could not be listed in between, hence listed today.

6.

Learned Counsel for the Appellant and Learned Counsel for the Respondent Nos. 1, 3 & 4 are directed to file Written-Submissions not exceeding three pages along with relevant 'Case-Laws' within two weeks.

7.

Learned Counsel for the Resolution Professional submits that he has filed an I.A. application through e-filing seeking permission to vacate the stay which was ordered on 17.12.2019 which read as under:

"During the pendency of the Appeal, the Appellant or its Directors or Officers will not sell the assets in question, transfer or lease or alienate moveable or immovable property nor create any third party encumbrance of the property in question without prior approval of this Appellate Tribunal if they are still in possession."

We grant two weeks' time to file hard-copy of the I.A. application filed through e-filing. The Office of the Registry to accept the same.

8.

Learned Counsel for the Resolution Professional to serve the soft of the I.A. application filed through e-filing to the other side, if not yet done.

List these Appeals along with I.A. to be filed 'For Hearing' on 06th January, 2022.