9911796707
TMI Blog2017 (12) TMI 1104X X X X Extracts X X X X X X X X Extracts X X X X ..... at, JJ. For The Appellants : Mr. Arun Kathpalia, Senior Advocate with Mr. Swapnil Gupta, Mr. Angad Mehta and Ms. Ankita Mrs. Shivambika Sinha, Advocates For The Respondent : Mr. R.K.Gupta and Mr. Achin Goel, Advocates ORDER An Interlocutory Application has been filed in this appeal for praying to pass such interim order. However, as Respondent-'Operational Creditor' has appeared through learn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the 'Corporate Debtor' and passed other orders in terms of 'I&B Code'. 3. On 18th October 2017, it was argued by learned senior counsel for the appellant that there is a dispute in existence prior to issuance of notice of demand under sub-section (1) of Section 8 of the 'I&B Code'. It was further submitted that the Adjudicating Authority without calling for name of any 'Interim Resolution Profes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n writing which is binding on the parties. 5. From the record we find that a sub-contract works agreement was reached between the parties. The scheduled completion date in relation to works of agreement dated 19th April, 2011 was 31st December, 2012. According to appellant, the respondent/applicant failed and ignored to complete the agreement works by that date. The respondent/applicant continued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence of dispute, we leave the question open as to whether the Adjudicating Authority has power to appoint any person of its own choice or not which will be decided in an appropriate case. 8. We have already held that application under Section 9 was not maintainable, in view of existence of dispute and that parties have already reached the settlement, for the reasons aforesaid, we set aside the im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tly through its Board of Directors from immediate effect. 10. As Dr. K Lakshmi Narasimha, Ph.D was appointed as 'Interim Resolution Professional' could not function in view of the interim order of stay passed by this Appellate Tribunal on 18th October, 2017, therefore, the question of payment to the 'Interim Resolution Professional' does not arise. The appeal is allowed and IA also stands dispose ..... X X X X Extracts X X X X X X X X Extracts X X X X
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