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2019 (10) TMI 1365 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHPendency of the winding up application and the appointment of OL - dilemma whether to proceed with CIRP or not - HELD THAT:- Section 238 of IB Code will prevail over other Act. Hence, there is no embargo on the part of the RP to proceed with the CIRP. Since the position has been clarified and settled by the Hon'ble Apex Court in Jaipur Metals & Electricals Employees Organization Vs. Jaipur Metals & Electricals Ltd. [2018 (12) TMI 674 - SUPREME COURT] and looking to the object of the IB Code as the time is essence. The RP is directed to complete the CIRP within a stipulated time. However, the period which is consumed during the disposal of IA 331/2019 is exempted from the CIRP i.e. from 24.05.2019 to 16.10.2019 - Meanwhile, the Suspended management is also directed to take an appropriate step before the Hon'ble High Court, wherein, winding up application is pending and inform this Bench. Application disposed off.
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