2020 (10) TMI 4

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....ber (T) For the Appellant : AZB & Partners For the Respondents : Priyanka M.P., Advocate ORDER 1. Heard Mr. ArunKumar learned for Petitioner and Shri S.S Naganand Learned Senior Counsel for the Respondent. 2. Shri. Arun Kumar, while relying on the said order passed by Hon'ble NCLAT, has reported to ready to argue the main Petition filed U/s 7 of Code', and insisted to decide....

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....order dated 25.11.2019 has clarified that the effect of the Interim Order of 11.11.2019 is "very limited", and the effect of that the order of remand passed by the learned single Judge directing the disposal of the application under Section 8 of the Arbitration and Conciliation Act, 1996 will remain stayed. Obviously there is no order passed by the Court which prevents the said Tribunal from proce....

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.... absence of any stay order passed by the Hon'ble High Court of Karnataka and as per the aforesaid decision of the Hon'ble Supreme Court, the application under Section 7 of I & B Code should have been decided within 14 days. The Appeal stands disposed of. No costs". 7. The Hon'ble Supreme Court in "Innoventive Industries Limited v/s. CICI Bank and Anr (2018) 1 SCC 407" has interalia ....

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....contentions as prescribed under the extant provisions of the code, the application/petition must be admitted. In the instance case, the main CP was filed on 18.01.2019, and it was adjourned on several occasions. During the pendency of the main CP, the Respondent has filed I.A No. 229 of 2019 u/s 8 of the Arbitration and Conciliation Act, 1996 as detailed supra. Therefore, the Adjudicating Authorit....