Application seeking stay on IBBI proceedings against IRP was admitted with time granted. Respondent to file reply by 24.07.2023
Two weeks time granted to IBBI. IBBI barred from taking action against IRP regarding compliance of Adjudicating Authority orders.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI COURT – IV
Item No. 103
New IA/3304/ND/202 IN IB/2721/ND/2019
IN THE MATTER OF:
M/s Straight Edge Contracts Pvt Ltd … Applicant Versus M/s Three C Shelters Pvt Ltd … Respondent
Order under Section 9 of IBC, 2016.
Order delivered on 16.06.2023
CORAM: MR. MAHENDRA KHANDELWAL, HON’BLE MEMBER (JUDICIAL) MR. RAHUL BHATNAGAR, HON’BLE MEMBER (TECHNICAL)
PRESENT:
For the Applicant : For RP/Intervenor : Mr. T. Singh, Mr. Abhijeet, Mr. Abhinav, Advs. For the Respondent Mr. Abhishek Kumar, Adv. For the IRP Mr. T. Singh, Ms. Kanika Singhal, Ms. Vijeta Singh, Mr. Anant Behari, Mr. Ishwar Singh, Mr. Abhishek Kumar, Advs.
ORDER
New IA/3304/ND/2023
This is an application filed on behalf of IRP seeking direction against the IBBI including the direction “not to initiate any proceedings against the applicant and to stay the investigation/proceeding in the subject matter of the case”. On advance notice, Learned Counsel for the IBBI is present. We have heard the submissions made by Learned Counsel for the IRP and Learned Counsel for the IBBI. We have also perused the paper book. It is observed that this Adjudicating Authority vide order dated 26.05.2023 issued certain directions which are to be carried out by the IRP. It was contended by Learned Counsel for the applicant that the subject matter of the investigation/proceedings in terms of the notices dated 29.05.2023 & 13.06.2023 issued by the IBBI are directly related to directions given by this Adjudicating Authority in order dated 26.05.2023. Learned Counsel for the IBBI accepts notice and seeks two weeks' time to file reply. Time prayed for is granted. In the meantime, IBBI shall not take any action against the IRP in respect of any action being taken by him in pursuance/compliance of the orders passed by this Adjudicating Authority in the present matter.
Main matter be posted to 24.07.2023.
Sd/RAHUL BHATNAGAR MEMBER (TECHNICAL)
Sd/MAHENDRA KHANDELWAL MEMBER (JUDICIAL)
Mukesh
1 issue framed by the court
Whether directions on initiation of proceedings by IBBI against the Adjudicating Authority's order should be stayed.
1 provisions across 1 enactments
M/s Straight Edge Contracts Pvt Ltd
M/s Three C Shelters Pvt Ltd
Mahendra Khandelwal
Rahul Bhatnagar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
