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2021 (3) TMI 906 - DELHI HIGH COURTRole of an Asset Reconstruction Company under the Insolvency and Bankruptcy Code - resolution plan submitted by the Petitioner is stated to have already been approved by the NCLT - HELD THAT:- The issues raised in this petition are of importance inasmuch as they would involve the reconciliation of the provisions of the SARFAESI Act and the IBC. Considering that the role of Asset Reconstruction Companies in resolution/liquidation processes under the IBC, has arisen for determination, it is deemed appropriate to direct that the officials of the Respondent No. 1 - Department of Financial Services, Ministry of Finance and the Ministry of Corporate Affairs shall arrive at a consensus and file a common affidavit after consulting with the officials of the Reserve Bank of India, on the said issue. List on 19th May, 2021. Interim orders to continue in the meantime.
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