2020 (9) TMI 1070

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....( T ) For the Appellant : Amol Vyas , Adv ORDER IA No. 50/JPR/2020 Heard the submissions made by the Resolution Professional (RP). The application under Section 14, read with Section 60(5) of IBC, 2016 is related to the action taken by the Presiding Officer under the Payment of Wages Act, 1936. It transpires that the Presiding Officer, under the Payment of Wages Act, 1936, has directed....

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....38 of IBC, 2016, is non-est in law. In this regard, the Hon'ble Supreme Court has clearly held in the case of Alchemist Asset Reconstruction Company Ltd. Vs. M/s. Hotel Gaudavan Pvt. Ltd. in (Civil Appeal No. 16929 of 2017) the following: - 3) The facts of the present case disclose a very sorry state of affairs. Several proceedings had been taken and ultimately a petition filed under ....

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....dated 31.05.2017, the National Company Law Tribunal, Principal Bench, New Delhi referred to Section 14(1)(a) of the Insolvency Code and stated that given the moratorium that is imposed, no arbitration proceedings could go on. A notice was issued on 29.06.2017 by the National Company Law Tribunal, Principal Bench, New Delhi in C.A. No. 186(PB) of 2017. 4) A First Appeal was filed before th....

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.....2017 and further state that the effect of Section 14(1) (a) is that the arbitration that has been instituted after the aforesaid moratorium is non-est in law. 7) Mr. Jayant Bhushan, learned Senior Counsel, also informs us that criminal proceeding being F.I.R. No. 0605 dated 06.08.2017 has been taken in a desperate attempt to see that the IRP does not continue with the proceedings under t....