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2021 (8) TMI 412 - Tri - Insolvency and BankruptcyLiquidation proceedings - Jurisdiction - seeking direction to deposit the arrears in salaries of the workmen and employees - matter regarding the applicability of the provision of the I &B Code to government companies is pending before the Hon'ble Bombay High Court and the Hon'ble Guwahati High Court - HELD THAT:- The applicant could not produce any law to show that this Adjudicating Authority is empowered to review its own order and quash the liquidation proceedings. That is the reason in the course of hearing, Ld. Counsel for the applicant submitted that since the violation of the Code to declare the moratorium against the Government Company is under challenge before the Hon'ble Guwahati High Court in HINDUSTAN PAPER CORPORATION LTD., HEMANTA KUMAR KAKATI, KRISHNA KANTA SUTRADHAR VERSUS THE UNION OF INDIA, HINDUSTAN PAPER CORPORATION LTD., INCOME TAX DEPTT. REP. BY THE CHIEF COMMISSIONER OF INCOME TAX, KULDEEP VERMA AND ORS. [2020 (6) TMI 760 - GAUHATI HIGH COURT], the petitioner is not pressing this prayer. Hence, we are not inclined to consider this prayer. Seeking to stay the liquidation proceedings - HELD THAT:- It is an admitted fact that the liquidation order was passed by this Adjudicating Authority on 14.05.2019 and liquidator was appointed. Thereafter, in the year 2020, the applicant has filed a writ application HINDUSTAN PAPER CORPORATION LTD., HEMANTA KUMAR KAKATI, KRISHNA KANTA SUTRADHAR VERSUS THE UNION OF INDIA, HINDUSTAN PAPER CORPORATION LTD., INCOME TAX DEPTT. REP. BY THE CHIEF COMMISSIONER OF INCOME TAX, KULDEEP VERMA AND ORS. [2020 (6) TMI 760 - GAUHATI HIGH COURT] before the Hon'ble Guwahati High Court and raised all these issues. But the applicant however, failed to produce any document to show that the applicant had prayed for stay of the liquidation proceedings in that writ petition. Under the IBC 2016, there is no provision to stay the liquidation proceedings once the order of liquidation is passed by the Adjudicating Authority. If the applicant is aggrieved by the order of liquidation passed by this Adjudicating Authority, he has a remedy to file an appeal before the Hon'ble NCLAT. Since the liquidation proceedings have already started, the matter regarding the power of the Adjudicating Authority to pass a liquidation order against -a Government Company is sub judice before the Hon'ble High Courts of Guwahati as well as Delhi and the order of Liquidation has already been confirmed by the Hon'ble NCLAT - Application dismissed.
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