Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2021 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (11) TMI 485 - HC - Companies LawSeeking direction to petitioner to maintain status quo qua the assets of the Respondent No.2, particularly when the RespondentNo.2 has not been admitted into CIRP till now - HELD THAT:- The learned Single Judge has declined to stay the order of the NCLT dated 30.09.2021 granting status quo order, on the ground that the Appellant has already filed an application for vacation of the status quo order, which is pending adjudication before the Tribunal and is listed on a short date i.e. 15.11.2021. Learned Single Judge has also observed that the Tribunal will necessarily consider the Appellant’s plea that the impugned order was without jurisdiction. What has also weighed with the learned Single Judge is the Appellant’s own case that it has taken possession of the subject properties and merely because it has been directed to maintain status quo, no grave or irreparable loss is caused. There are no infirmity with the observations of the learned Single Judge and the order passed, which is impugned in the present appeal. Learned Senior Counsel does not dispute that the application for vacation of stay is pending adjudication and is listed on 15.11.2021 - appeal dismissed.
|