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ONE PAGE #16 – In the matter of M/s Ind-Bharath Power (Madras) Ltd (CD)

ONE PAGE #16 – In the matter of M/s Ind-Bharath Power (Madras) Ltd (CD)
Directions by NCLAT for the delay in deciding the matters at NCLT
Court:  NCLT Hyd & NCLAT Chennai Bench AT# 03/2021 Dt 11.02.2021

1. Facts of the Case:

a. Appellant is the Liquidator of the CD.

b. Grievance is the order dated 7.1.2021 by NCLT adjourning IA 20/2021, IA157/2019 and IA 157 of 2019 by NCLT. Every now and then matters are being adjourned causing prejudice to the Appellant.

c. Please is to pass an order giving necessary directions for NCLT to dispose the pending matters at the earliest to prevent an aberration of justice and to promote substantial cause of justice.

2. Analysis & Judgment by NCLAT:

Application is disposed with following observations and directions:

a. NCLAT deems fit and proper in directing NCLT to take up the matters along with other pending IAs preferably on 25.02.2021 and to dispose the said applications as expeditiously as possible without granting unnecessary adjournments so as to adhere to the time limit prescribed under the I&B Code.

b. The respective parties are directed to lend their unstinted cooperation and assistance to NCLT in disposing the interlocutory applications.

c. NCLT to provide adequate opportunity to the respective parties before disposing the interlocutory applications.

MS Mano Ranjani

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