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2021 (1) TMI 1116 - Tri - Companies LawSeeking grant of status quo order or any interim directions in the Application for consideration before this Tribunal - HELD THAT:- The Application in simpliciter is an Application seeking early hearing of the main Company Petition. The Applicants / Petitioners seem to have been frustrated by the Covid-19 pandemic as that has put an effective break upon the mediation proceedings undertaken by the Mediator as well as the valuation exercises and aggrieved by it and in the circumstances they seem to have filed this Application - It is also evident from the record of proceedings that at the instance of the Applicants / Petitioners, this Tribunal has evolved a mechanism for sale of the properties giving adequate representations to all the family group concerned, all being closely related to each other vide order dated 16.04.2019, under the instance of the Applicants / Petitioners. Further this Tribunal has also ordered for a change of the independent Observer, appointed by this Tribunal namely one Mr. Sankara Narayanan, Senior Advocate to Mr. 0m Prakash Ellanty, Senior Advocate vide its order dated 12.06.2019. Taking into consideration the pendency of the Mediation proceedings as well as the overall interests of the parties concerned and that of the 1st Respondent Company, the mediation proceedings should be expedited as it is more than a year since passing of the order dated 03.01.2020 wherein we had given a time frame to complete the mediation proceedings by the Mediators - it is appropriate for the Mediator in case the Mediator is not comfortable with the mediation proceedings being conducted in physical mode, at the least, to conduct the same, virtually. The Mediator are directed to re-commence the mediation proceedings at the earliest commencing from 1st February 2021 and complete the process of mediation by March 15, 2021 after giving advance notice to the parties concerned - application disposed off.
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