2019 (3) TMI 2017

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....spondent : Mr. Avnish Garg and Mr. Arjun Aggarwal, Advocates ORDER M/s. Agarpara Jute Mills Company Limited' (for short, 'the Company') being a sick company moved before the 'Board for Industrial and Financial Reconstruction' (BIFR) which sanctioned the scheme. 'M/s. Agarpara Company Limited', which is a shareholder of 'M/s. Agarpara Jute Mills Company Limited' moved before the 'Appellate Authority for Industrial and Financial Reconstruction' (AAIFR) . While the matter was pending, the Appellate Authority was dissolved pursuant to 'SICA Repeal Act, 2003'. 2. As there being no remedy, by Notification No. S.O. 3569 (E) dated 25th November, 2016, Section 4(b) of the 'SICA Repeal Act, 2003' was amended/modified, which reads as follows:....

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....upreme Court by filing a 'Special Leave to Appeal (Civil) No. 3302/2019' - 'Rabindra Kumar Walia vs. Union of India & Ors.'. However, on 4th February, 2019 when the matter was taken up, the counsel for petitioner before the Hon'ble Supreme Court sought permission to withdraw the 'special leave petition', which was allowed and dismissed as withdrawn. 4. In view of the aforesaid fact, the appellant - 'M/s. Agarpara Company Limited' moved before the NCLT, Kolkata Bench, who has dismissed the application by the impugned order dated 5th February, 2019 as not maintainable referring to the decision of this Appellate Tribunal in 'Pr. Director General of Income Tax (Admn. & TPS) vs. M/s. Spartek Ceramics India Ltd. & Anr. - Company Appeal (AT)(In....

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....n before the High Court of Delhi in both the appeals before us with liberty to the appellants to amend the aforesaid writ petitions within a period of four weeks from today." 6. In view of the specific finding of the Hon'ble Supreme Court in 'M/s. Spartek Ceramics India Ltd.' (Supra), we are not inclined to interfere with the impugned judgment dated 5th February, 2019 whereby the Adjudicating Authority held that petition filed by the appellant - 'M/s Agarpara Company Limited' is not maintainable. 7. Learned counsel for the parties submit that the appellant cannot move before the Hon'ble High Court of Delhi in view of the decision of the 'Special Leave Petition (Civil) No. 3302/2019'. However, from the order dated 4th February, 2019, w....