Delhi High Court - Orders
Rajesh Raizada Member Of Suspended ... vs National Company Law Tribunal And Ors on 31 May, 2022
Author: Yashwant Varma
Bench: Yashwant Varma
$~71
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 8820/2022, CM APPL. 26584-85/2022
RAJESH RAIZADA MEMBER OF SUSPENDED BOARD OF
DIRECTORS OF ATS HOUSING PVT LTD ..... Petitioner
Through: Mr. Vijay Nair, Mr. Manoranjan
Sharma, Mr. Rishu Kaur, Advs.
versus
NATIONAL COMPANY LAW TRIBUNAL AND ORS
..... Respondents
Through: Mr. Kartik Nayar, Mr. Krish Kalra,
Advs. for R-2 and 3.
Mr. Akshay Srivastava, Mr. Gaurav
Kaliyan, IRP for R-4.
CORAM:
HON'BLE MR. JUSTICE YASHWANT VARMA
ORDER
% 31.05.2022 This petition has been preferred assailing an order dated 27 May 2022 passed by the National Company Law Tribunal [NCLT] appointing an Interim Resolution Professional and according commencement of Corporate Insolvency Resolution Process [CIRP].
The petitioner submits that prior to the passing of the aforesaid order, a settlement agreement had been arrived at between the petitioner here and respondent Nos. 2 & 3. It is further submitted that the factum of settlement was duly placed on the record of the Tribunal prior to the pronouncement of final orders. Learned counsel for the petitioner has drawn the attention of the Court to page 59 of the paper book to contend that the settlement agreement was duly filed with the Registry of the Tribunal prior to pronouncement of orders which was fixed for 02.15 P.M. Learned counsel representing the Signature Not Verified Digitally Signed By:NEHA Signing Date:31.05.2022 19:15:16 petitioner as well as respondent Nos. 2 & 3 further state that the factum of settlement was duly brought to the notice of the Hon'ble Member who had assembled on that date for pronouncement of judgement.
In view of the aforesaid facts, this writ petition shall stand disposed of with a direction to the Tribunal to duly take up for consideration any petition that may be moved under Section 12A of Insolvency & Bankruptcy Code, 2016 by the petitioner through the Insolvency Resolution Professional [IRP].
Bearing in mind the serious consequences which ensue once a CIRP process commences, the Court expects the Tribunal to take up the said petition on priority basis.
Pending applications shall stand disposed of accordingly.
YASHWANT VARMA, J.
MAY 31, 2022/neha Signature Not Verified Digitally Signed By:NEHA Signing Date:31.05.2022 19:15:16