2022 (2) TMI 676

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.... Learned Counsel for the Appellant, Ms. Honey Satpal, Learned Counsel for the Respondent No.1 and Shri Rajesh Kr. Gautam, Learned Counsel for Respondent No.2. 2. This Appeal has been filed against the order dated 17.12.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Indore Bench at Ahmedabad in I.A No. 204(MP)2021 by which Adjudicating Authority has noting the fact that the main matter is referred to the third Bench by the order of the Hon'ble President and further orders are required from President only pending hearing of the main Application, directed to maintain status quo. Aggrieved by the said order, State Bank of India has come up in the Appeal. 3. Learned Counsel for the Appellant submits that there h....

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....y & Bankruptcy Code, 2016 on merit without further loss of time." 5. After the aforesaid order, a notification was issued by the Registrar on 11.03.2020 by which the main Company Petition was placed before a Single Bench. 6. Against the aforesaid order, Company Appeal (AT) (Ins.) No. 726-727 of 2020 was filed by the Corporate Debtor which was disposed off by this Tribunal on 24.08.2020 where request was made to the Hon'ble President to constitute a Bench comprising of a Judicial Member and a Technical Member for disposal of the matter in hand. 7. Subsequent to the aforesaid order dated 24.08.2020, matter was heard and reserved by the Division Bench on 25.11.2021. Subsequently, on 29.11.2021, another Administrative Order was passed ....

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.... thus, are of the view that the matter has to be listed before a Bench consisting of Judicial Member and Technical Member as has already been held by this Tribunal in its judgment dated 24.08.2020, noticed above. 9. In view of the aforesaid, we are of the view that the Learned President of the NCLT may take appropriate Administrative decision for listing the matter before a Bench consisting of Judicial Member and Technical Member. The copy of this order be placed by the Registrar before the Hon'ble President for passing appropriate order within a week from today. 10. Learned Counsel for the Appellant has also questioned the order of status quo passed by the Adjudicating Authority on 17.12.2020, which order is impugned in the present A....