2025 (7) TMI 86

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....nterim resolution professional of respondent no. 2 to not take any steps in furtherance of order dated 12.06.2025 in CP(IB) No. 10 (MP) 2024 passed by the ld. national company law tribunal, Indore bench till the appeal is heard by ld. National Company Law Appellate Tribunal, New Delhi or/ in the alternative. (b) The respondent no. 3 be directed to list the appeal before the Ld. NCALT any day before 28.06.2025 in order to prevent grave and irretrievable prejudice to the corporate debtor and to uphold the sanctity of the judicial process' (c) Pass such further orders or directions as this Hon'ble Court may deem just, fit and proper in the interest of justice and to prevent irreparable harm to the Petitioner and Respondent No....

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....s 'NCLAT'). 5. It is pertinent to mention herein that on 18.06.2025, the matter was mentioned before the learned NCLAT for its urgent listing on 23.06.2025 or any day before 28.06.2025, however, the relief seeking early listing of the matter was rejected on the said date by the learned NCLAT. 6. In view of the peculiar facts and urgency of the matter, the petitioner has approached this Court inter alia seeking a direction to the Interim Resolution Professional (hereinafter referred to as 'IRP') of respondent No. 2 to not take any steps in furtherance of the Order dated 12.06.2025, passed by the learned NCLT, Indore, till the appeal is heard by the learned NCLAT, New Delhi, or, in the alternative, seeks a direction to the respondent No....

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....asmuch as the prayer that the respondent No. 3 be directed to list the appeal before the learned NCLAT any day before 28.06.2025, is concerned, it is a settled position of law that High Courts are generally discouraged from interfering with the routine functioning of a Tribunal such as the NCLAT. The extraordinary jurisdictional powers of a High Court are to be exercised with great caution and the same does not merit unnecessary interference in dictating the NCLAT's operational procedure. 11. Furthermore, the IBC, which is a special act, establishes the framework as to how its Tribunals should emphasize a time-bound process for adjudicating insolvency matters. It is also pertinent to state that the proper recourse as per IBC's hierarchy ....