Insolvency) 503 and 505 of 2021, the National Company Law Appellate
Tribunal (NCLAT), on 19.07.2021, stayed the said order. Aggrieved
thereby, Twin Star Technologies Limited ... NCLT either by approaching the same NCLT bench or
the NCLAT, i.e. the statutory appellate authority provided under Section
proceedings are pending in the National Company Law Appellate Tribunal
(hereinafter, "NCLAT").
Plaintiff's Case
9. The Plaintiff, who was undertaking ... Plaintiff
admits that IL&FS is under insolvency proceedings and the NCLAT vide
order dated 15th October, 2018 has imposed a stay
Nigam Ltd. V. Raman Ispat Pvt. Ltd.
&Ors. [2019 SCC OnLine NCLAT 883].
9. For effective revival of the debtor company, the Resolution Plan ... Resolution
Plan is pending at the behest of the DVC before the NCLAT, no stay of
4
operation of the said order of approval
Padmakumar Vs. Stressed Assets
Stabilisation Fund & Anr. " [(2020) SCC ONLINE NCLAT 417] larger Bench of
Page | 5
Company Appeal (AT) (Insolvency ... Justice".
This Tribunal is empowered also under Rule 11 of the NCLAT Rules, 2016 vide
which we can exercise inherent powers to make such
Code
has been deliberated upon in several judgments of
NCLT and NCLAT. The existing jurisprudence on
this subject indicates that ... indicate that it has applied its
mind to judgments of NCLT and NCLAT. It has also applied its
mind to the aspect that
2019 which was subsequently
approved by the National Company Law Appellate Tribunal (NCLAT) vide order
dt. 17/02/2020.
9. It was submitted that ... National
Company Law Appellate Tribunal, New Delhi ("NCLAT") vide order dated
17.02.2020.
(vi) Pertinently, an intimation regarding pendency of insolvency proceedings
before
reported in 2019 SCC OnLine NCLAT page 148 (at
Company Appeal (AT) (Insolvency) No.276 of 2021
P a g e 18 | 72
special page ... been a material irregularity in exercise of
the powers by RP, NCLAT was justified in view of
the provisions of clause (ii) of sub-section
Committee of Creditors, Xalta Food and
Beverages Pvt. Ltd and ors , NCLAT, Contempt case ... Projects Vs. Divya Jyoti Sponge Iron Pvt. Ltd. &Ors., NCLAT
CA(AT) (Ins) No. 481 of 2018 held at para 25:
"In view
statute. The provisions
investing jurisdiction and authority in the NCLT or NCLAT as
noticed earlier, has not made the commercial decision exercised ... inquiry would be permissible. Further, the
jurisdiction bestowed upon the appellate authority (NCLAT) is
also expressly circumscribed. It can examine the challenge only
in relation
Realty Private Limited Vs. Ajay
Kumar & Ors. ', (2020) SCC OnLine NCLAT 732, wherein it was held
that for initiation of Insolvency Proceedings against ... Paras 21-24, 28-
Agarwal & Ors.' (2020) SCC OnLine 30
NCLAT.
4. 'Axis Bank Ltd. Edusmart Vs. Services Paras
