Appeal against sale of asset where applicant sought stay. Sale deferred due to lack of bidders, making stay application infructuous. Order continued two-week notice requirement.
I.A. for stay held infructuous and disposed of. Direction for two-week prior notice continues.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson
I.A. No. 87/2023 In Misc. Appeal No. 27/2023
Between
Lakhpati Arora … Appellant/s
Indian Resurgence ARC Pvt. Ltd. &Ors
…Respondent/s
Mr Mangesh Patel along with Mr. J.K.Shah and Mr. Abhijeet Pawar, i/b M/s. RJ Law, Advocate for Appellant.
Mr Nikhil Rajani, i/b M/s V. Deshpande & Co., Advocate for Respondent No.1.
-: Order dated: 28/07/2023:-
The matter is taken up for hearing by way of a praecipe filed by the Appellant for seeking urgent relief.
The amendment has been carried out. The application for the stay shall be taken along with the appeal. Reply to the appeal shall be filed. I.A. No. 87/2023 is for stalling the sale scheduled to be held on today. It is submitted by the Ld. Counsel appearing for the Respondent that for want of bidders the sale stands deferred.
Hence, the I.A. 87/2023 has become infructuous and is disposed of. The reply shall be filed on the Misc. Appeal.
The order directing the Respondent to serve at least two weeks’ notice prior to the intended sale shall continue.
1
Post on 18.09.2023 for reply/hearing.
Sd/Chairperson
rm-7
2
Lakhpati Arora
Indian Resurgence ARC Pvt. Ltd.
Ashok Menon
As recorded by the court registry
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