Supreme Court - Daily Orders
Jaiprakash Associates Ltd. vs Idbi Bank Ltd. on 3 February, 2020
Bench: A.M. Khanwilkar, Dinesh Maheshwari
1
ITEM NO.53 COURT NO.6 SECTION XVII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Miscellaneous Application No(s). 540 of 2020 in C.A. No.
8437/2019
(Arising out of impugned final judgment and order dated 06-11-2019
in C.A. No. No. 8437/2019 passed by the Supreme Court Of India)
JAIPRAKASH ASSOCIATES LTD. Petitioner(s)
VERSUS
IDBI BANK LTD. Respondent(s)
(FOR ADMISSION and IA No.19152/2020-CLARIFICATION/DIRECTION
IA No. 19152/2020 - CLARIFICATION/DIRECTION)
Date : 03-02-2020 These matters were called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE A.M. KHANWILKAR
HON'BLE MR. JUSTICE DINESH MAHESHWARI
For Petitioner(s)
Mr. V. Giri, Sr. Adv.
Mr. Sanjay Bhatt, Adv.
Mr. Rabin Majumder, AOR
For Respondent(s)
Mr. Bishwajit Dubey, Adv.
Mr. Aditya marwah, adv.
Mr. Manpreet Lamba, Adv.
M/s. Cyril amarchand Mangal Das, AOR
UPON hearing the counsel the Court made the following
O R D E R
This application is filed by the Interim Resolution Professional pointing out the unavoidable circumstances which have Signature Not Verified Digitally signed by DEEPAK SINGH Date: 2020.02.04 delayed the culmination of the proposal for approval of resolution 17:31:38 IST Reason:
plan though submitted within the time-frame prescribed by this Court. For reasons stated in the application, we accede to the 2 request of the Interim Resolution Professional and allow this miscellaneous application in terms of prayer clause (a) which reads thus:
“a. Pass an appropriate direction for extension of time of four-weeks from 03.02.2020 to the Principal Bench, National Company Law Tribunal to pass orders in Company Application No. 5 of 2020 filed by the IRP for approval of resolution plan under Section 30(6) read with Section 31 of Insolvency and Bankruptcy Code, 2016 and to consider other relevant applications.” The time, as prayed, is extended for the time being in terms of prayer clause (a).
We need to record the fact brought to our notice that some Public Interest Litigation has been filed to question the transfer of proceedings from National Company Law Tribunal, Allahabad Bench, Allahabad to National Company Law Tribunal, Principal Bench, New Delhi. Considering the fact that timeline for conclusion of resolution process has been specified by this Court and the entire issue regarding the said process pertaining to Jaypee Infratech Limited is brought before this Court, in the interests of all concerned, we deem it appropriate to suo motu withdraw the stated Public Interest Litigation (PIL) No. 97 of 2020 titled as Company Law Tribunal Bar Association (CLTBA), Allahabad Bench, Allahabad through its Secretary Vs. Union of India & Ors. to this Court, so as to avoid any conflicting directions being passed by the High Court and moreso to ensure compliance of the time-frame specified by this Court. We order accordingly.
3The Registry shall take necessary steps for calling for the transferred proceedings and register it as a transferred case, to be placed before the appropriate bench of this Court.
(DEEPAK SINGH) (VIDYA NEGI) COURT MASTER (SH) COURT MASTER (NSH)