TMI Blog2022 (11) TMI 1283X X X X Extracts X X X X X X X X Extracts X X X X ..... has already heard the lawyers extensively on the aspect of jurisdiction viz on interlocutory application filed by the Petitioners, written submissions are also filed. Much time and energy is spent by the NCLT on hearing on the interlocutory application. In view of that it would be appropriate for the NCLT to decide the interlocutory application before proceeding to deal with the other issues. The Hon ble Apex Court in the case of Ramesh Kymal [ 2021 (2) TMI 394 - SUPREME COURT ] has dealt with the issue of Section 10A of IBC. As the NCLT has extensively heard both the parties on interlocutory application, hence the NCLT shall decide it before dealing with other issues. The Petition is allowed. - WRIT PETITION NO.4560 OF 2022 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) together with (the Borrowers ). The petitioner had executed a corporate guarantee (Guarantee-1) dated 2nd June, 2015 in respect of term loan of INR 500 crores advanced to Borrower-1. The petitioner had also executed a corporate guarantee (Guarantee-2) dated 2nd June, 2015 in respect of term loan of INR 300 crores advance to Borrower-2. Both guarantees contained identical terms. Both the guarantees were on demand in as much as the guarantors (including the petitioner herein) had unconditionally and irrevocably guaranteed due repayment of the respective term loans to the respondent on demand. Both the borrowers defaulted the term loan and were declared as NPA. The respondent has claimed an outstanding amount of approximately INR 888.95 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat an issue of jurisdiction must be determined at the outset and before proceeding to examine the matter on merit, for otherwise it can amount to erroneous assumption of a jurisdiction that it does not possess. Mr. Seervai further submits that a substantial amount of time has already been spent on hearing the jurisdiction issue and both the parties have completed their submissions thereon, written submissions have already been filed by both the parties but the NCLT is now insisting to proceed with the merit of the case without disposing the interlocutory application. It is required to decide the interlocutory application first on the jurisdictional issue. Mr. Seervai relied upon Ramesh Kymal versus Siements Gamesa Renewable Power Private ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s on that issue. Mr.Seervai and Mr.Joshi are ad idem on one point that is the NCLT has already heard the lawyers extensively on the aspect of jurisdiction viz on interlocutory application filed by the Petitioners, written submissions are also filed. Much time and energy is spent by the NCLT on hearing on the interlocutory application. In view of that it would be appropriate for the NCLT to decide the interlocutory application before proceeding to deal with the other issues. The Hon ble Apex Court in the case of Ramesh Kymal (Supra) has dealt with the issue of Section 10A of IBC. As the NCLT has extensively heard both the parties on interlocutory application, hence in our view the NCLT shall decide it before dealing with other issues. We hav ..... X X X X Extracts X X X X X X X X Extracts X X X X
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