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Judgment
Heard learned counsel for the Appellant as well as learned counsel appearing for the Liquidator and learned counsel for the CoC (Respondent No. 3).
This Appeal has been filed against two orders of the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh first dated 06.12.2019 by which order CA No. 1052 of 2019 filed for liquidation has been allowed and the Adjudicating Authority has directed for liquidation of the Corporate Debtor and another order dated 23.12.2019 in CA No. 1187 of 2019 by which the application filed under Section 12A of the I&B Code was rejected. Both these orders have been challenged in this Appeal.
Learned counsel for the Appellant submits that an OTS has been approved from the Financial Creditors and consequent to which Appellant is to file scheme under Section 230 and 232 of the Companies Act, 2013 before the Liquidator.
In view of the above statement, we see no reason to enter into various issues raised in this Appeal. Learned counsel for the Appellant seeks thirty days’ time to file scheme before the Liquidator as per Section 230 of the Companies Act. We dispose of this Appeal with liberty to the Appellant to file application under Section 232 of the Companies Act before the Liquidator within thirty days from today. It shall be open for the Liquidator to proceed further in the said scheme/ arrangement in accordance with law. The Appeal is disposed of.