2022 (7) TMI 578

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....arshad Vyas, Mr. Ativ Patel, Mr. Darshit Dave and Mr. Viloma Shah, Advocates for R-1 Mr. Yash Jariwala and Mr. DilipKumar Natvarlal Jagad for IRP/R-2. ORDER ( Virtual Mode ) Heard Mr. PH Arvindh Pandian, Ld. Sr. Counsel for the Appellant. According to the Ld. Sr. Counsel for the Appellant, the impugned order was passed by the 'Adjudicating Authority' (National Company Law Tribunal, Mumbai Bench-IV) in CP (IB) No. 1337/MB/2020 dated 16.06.2022. At paragraph 8 of the impugned order, according to the 'Adjudicating Authority,' the 'Financial Creditor' had furnished the details of amount in 'Default' which runs as under: Contract No. 179643 Sr. No. Contract No. Amt. claimed to be in default Date on which default occ....

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....he Corporate Debtor' by the 'Adjudicating Authority' has in the instant Case had led to 'Miscarriage of Justice' as per the stand taken on behalf of the Appellant. According to the Ld. Sr. Counsel for the Appellant/Corporate Debtor, the Corporate Debtor is ready and willing to deposit in any event, a sum of Rs. 1,12,50,000/- before the Registrar NCLAT, Division Bench New Delhi. The Ld. Sr. Counsel for the Appellant therefore prays that the Appellant/Corporate Debtor may be permitted to deposit Rs. 1,12,50,000/- before this 'Tribunal' and an interim relief for stay of the 'impugned order' may be passed by this Tribunal, to secure the ends of justice. Per contra, the Ld. Sr. Counsel Mr. Krishnendu Datta appearing for the Respondent N....

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....the impugned order passed by the 'Adjudicating Authority' is contrary to the law because of the fact that the Authority had not taken into account the 'Written Notes of submissions' projected on the side of the Appellant/Corporate Debtor especially the 'Adjudicating Authority' has not touched on the aspect of 'Default' as it in entirety and hence, prayed for an interim stay of the 'impugned order'. At this stage, this 'Tribunal' has heard the Ld. Counsels appearing for the respective parties at the stage of 'Admission' and after a careful consideration of the arguments advanced on either side, this Tribunal is of the considered view that 'the Appellant/Corporate' debtor is not entitled to get an 'interim relief' of 'stay' of the 'impugne....