National Company Law Appellate Tribunal
Nikhil Khanna & Ors vs Spaze Towers Private Limited on 30 January, 2025
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH,
NEW DELHI
Restoration Application No. 4 of 2025 in
Company Appeal (AT) (Insolvency) No. 1720 of 2024
In the matter of:
Nikhil Khanna & Ors. ....Appellant
Vs.
Spaze Towers Pvt. Ltd. ...Respondents
For Appellant Mr. Vivek Kumar, Mr. Jayant Upadhyay,
Advocates
For Respondents Mr. K.Gandhi, Mr. Sikhar Tiwari, Vidhika Kapoor,
Advocates for RP
ORDER
(HYBRID MODE) 30.01.2025: Restoration Application No. 4 of 2025 - This application is for setting aside of the order dated 16.01.2025 whereby the present appeal was dismissed for non-prosecution.
2. We have also heard the Applicant. It is informed to us by Ld. Counsel appearing for both sides that Company is admitted to CIRP vide order dated 21.10.2024 in a petition filed by some other Creditor.
3. It is the submission let this appeal be restored and then be disposed of with a liberty to Appellant to revive it in case the CIRP vide order dated 21.10.2024 is set aside by the Appellate Authority.
4. Learned Counsel for Respondent appears for an advance notice has no objection if the application is disposed of in the manner stated above. Restoration Application No. 4 of 2025 in Company Appeal (AT) (Insolvency) No. 1720 of 2024 1
5. In view of the above, the application for reasons mentioned therein stands allowed and order dated 16.1.2025 so far it relates to dismissal of the appeal for non-prosecution is set aside and that Company Appeal (AT) (Insolvency) No. 1720 of 2024 is restored to its original number.
6. Considering the fact the Company has already been admitted CIRP vide order dated 21.10.2024, the appeal is disposed of with a liberty to the Appellant to revive the appeal in case the order dated 21.10.2024 admitting the CIRP is set aside by the Appellate Forum. The appeal stands disposed of. All the pending applications, if any, are also disposed of.
[Justice Yogesh Khanna] Member (Judicial) [Mr. Ajai Das Mehrotra] Member (Technical) ss/manu Restoration Application No. 4 of 2025 in Company Appeal (AT) (Insolvency) No. 1720 of 2024 2