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        IBC

        A transfer application seeking shifting of proceedings from one...

        Bid to transfer insolvency proceedings over alleged 'threat' to vacate interim stay during hearing rejected as unjustified

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                A transfer application seeking shifting of proceedings from one NCLT Bench was rejected, where the applicants alleged that a Technical Member "threatened to vacate" an interim stay during hearing. The Court held that transfer cannot be granted merely due to oral observations made in the course of proceedings, and characterised the plea as an unjustified attempt to browbeat the Tribunal; hence, the President's decision to treat the application as liable to dismissal required no interference. The legal question raised in a connected matter filed by the same applicants was expressly kept open to be decided in separate proceedings where notice had been issued. - SC
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