2021 (8) TMI 723

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....ice And Hon'ble Mr.Justice P.D.Audikesavalu For the Petitioner : Mr.E.Omprakash, S.C., For Mr.Ilayaraja Perumal For the Respondents : Mr.P.S.Raman, S.C., For M/s. Aparajitha Viswanath for respondent-1, Not ready in Notice - R2, Ms.G.M.Oviya For Mr.Thiyambak J.Kannan for respondents 3 and 5, Mrs.V.Uma Official Assignee Mr.M.Vasantha Kumar Dy. Official Assignee for respondent-6 ORDER ....

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....oner herein. 4. It appears that in proceedings in this court to which the petitioner herein was not a party, the charge created in respect of a property in favour of the petitioner herein by the corporate debtor was called into question and some observations made by a Single Bench. An appeal has been preferred by the first respondent herein from the relevant order to question the order of th....

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....ragraph thereof: "The Insolvency and Bankruptcy Code, 2016 (IBC) is time bound. ... The complexities in this matter and pending litigations before various courts have been major impediment in conducting CIRP. Since the matter is pending before the Division Bench of the Hon'ble High Court of Madras, all the parties shall place this matter before Hon'ble High Court for direction whe....

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....the parties cannot be asked to approach this Court for this Court to hand-hold the NCLT and guide it through its proceedings. Indeed, the order and the part thereof extracted above betrays the total non-application of mind in that all the parties before the NCLT were not, and could not have been, parties to the proceedings pending before the Division Bench of this Court and, to such extent, the pa....