2019 (3) TMI 1939

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R (TECHNICAL) For the Petitioner: Mr. Javed Khan, Adv. For the OL: Ms. Swati, Adv. ORDER CA-280(PB)/2019 This is an application with a prayer for recalling the order dated 30.01.2019 disposing off CP. No. (IB)-104(PB)/2018 on the ground that the Hon'ble Delhi High Court had appointed Provisional Liquidator in CP. No. 814/2016 titled as "Brijesh Gupta & Ors. v. Premia Projects Lt....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... mean that if, in a post - notice   winding up petition a new proceeding is filed under IBC, and where orders are passed by NCLT, including under Section 14 of the IBC, the consequences provided for under IBC will not apply to post notice proceeding, whatever their stage may be. xxx xxx xxx 98. Further more, this transitional provision cannot in any way affect the remed....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the provisions of IBC in general to proceedings validly instituted under IBC, [nor] does it mean that such proceeding can be suspended." A perusal of the aforesaid paras makes it evident that mere appointment of Provisional Liquidator would not denude the NCLT of its jurisdiction under the provisions of Insolvency & Bankruptcy Code which are considered to be an independent proceeding. Theref....