Supreme Court - Daily Orders
Narayan Singh Pathania vs Valuelabs Llp on 31 March, 2022
Bench: Indira Banerjee, J.K. Maheshwari
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IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 671/2021
NARAYAN SINGH PATHANIA … Appellant(s)
VERSUS
VALUELABS LLP & ANR. … Respondent(s)
ORDER
By an order dated 26.02.2021, this Court admitted this appeal filed against an order dated 09.02.2021 passed by the NCLAT, dismissing the appeal filed by the appellant, being Company Appeal (AT) (Insolvency) No.1415 of 2019 against an order dated 02.12.2019 passed by the Bombay Bench of National Company Law Tribunal, admitting Company Petition (IB) No.2520/MB/2019 under Section 9 of the Insolvency and Bankruptcy Code, and stayed further proceedings in the NCLAT until further orders of this Court.
On 03.03.2022, learned Counsel appearing on behalf of the appellant gave an undertaking to this Court to make payment of the entire principal amount due and payable to the respondent within three weeks from the aforesaid date. The matter was directed to be listed on 28.03.2022. Signature Not Verified Digitally signed by GULSHAN KUMAR ARORA Date: 2022.04.07 17:50:43 IST Reason:
It has been brought to thenotice of this Court that in breach of the undertaking, the appellant has not made any payment. The appeal is, 2 accordingly, dismissed and the interim order granting stay of proceedings before the NCLAT/NCLT stands vacated.
The NCLT shall proceed with the Corporate Insolvency Resolution Process.
The parties may raise their claims before the NCLT. All applications, shall stand disposed of accordingly.
………………………………,J.
[ INDIRA BANERJEE ] ………………………………,J.
(J.K. MAHESHWARI) New Delhi;
March 31. 2022.
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ITEM NO.305 COURT NO.8 SECTION XVII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Civil Appeal No(s). 671/2021
NARAYAN SINGH PATHANIA Appellant(s)
VERSUS
VALUELABS LLP & ANR. Respondent(s)
(IA No. 123574/2021 - APPROPRIATE ORDERS/DIRECTIONS IA
No.39244/2021 – CLARIFICATION/DIRECTION IA No. 26123/2021 - EX- PARTE STAY IA No. 26124/2021 - EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT IA No. 98124/2021 - INTERVENTION/IMPLEADMENT IA No. 28543/2021 - PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ ANNEXURES IA No. 98129/2021 - RECALLING THE COURTS ORDER) Date : 31-03-2022 These matters were called on for hearing today. CORAM : HON'BLE MS. JUSTICE INDIRA BANERJEE HON'BLE MR. JUSTICE J.K. MAHESHWARI For Appellant(s) Mr. Malak Manish Bhatt, AOR For Respondent(s) Mr. Ankur Goel, Adv.
Ms. Misha Rohatgi, AOR Mr. Abhinav Mukerji, AOR M/S. Pba Legal, AOR UPON hearing the counsel the Court made the following O R D E R The appeal is dismissed in terms of the signed order and the interim order granting stay of proceedings before the NCLAT/NCLT stands vacated.
The NCLT shall proceed with the Corporate Insolvency 4 Resolution Process.
The parties may raise their claims before the NCLT. All applications shall stand disposed of accordingly.
(GULSHAN KUMAR ARORA) (MATHEW ABRAHAM)
AR-CUM-PS COURT MASTER (NSH)
(Signed order is placed on the file)