TMI Blog2019 (6) TMI 420X X X X Extracts X X X X X X X X Extracts X X X X ..... P. C. : 1. Heard the learned senior counsel for the Petitioner and the learned counsel appearing for the Respondents. The petition is filed for following reliefs : In view of above, it is most respectfully prayed that this Hon'ble Court may be pleased to :- a] Read down section 82 of the Code of Criminal Procedure in order to save it from being rendered unconstitutional on the vice of falling foul of Article 14 and 21 of the Constitution of India and hold that a person could be called an 'absconder' only when the contingencies; conditions; stipulations contained in the said Section are satisfied and under no other circumstances, can a person be called as such; b] Read down Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tifying persons not eligible to be resolution applicant has no bearing on the powers to be exercised by the Adjudicating Authority (NCLT) under section 12-A of IBC red with CIRP Regulations 2016. d] Issue appropriate writ(s), orders(s), or direction(s) to quash / set aside the impugned order dated 11.3.2019 passed by Respondent No.4, National Company Law Tribunal, Mumbai Bench ( NCLT ) in MA 951/2019 in CP (IB)-490/MB/2018 and all consequential proceedings arising therefrom, wherein, inter alia, several prejudicial observations / remarks have been made against the promoters/ directors of the Sterling Biotech Limited ( Company ) as such observations are not only irrelevant and extraneous and have no bearing on the lis pending be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the corporate debtor. 3. It is the case of the Petitioner that once application under section 12A of the IB Code is filed in the prescribed manner by the financial creditor or resolution professional, and if it is compliance to section 30-A of CIRP (Regulations) 2016, then, there is no alternative to NCLT but to allow the withdrawal of proceedings. Despite this, NCLT by passing order dated 11th March 2019 issued notices to the Central Government of India through Regional Director, the Ministry of Corporate Affairs, Enforcement Director, CBI, Income Tax on the premise that proposal submitted by Sandesara group is accepted by the financial creditor, create suspicion when the promoter / director is absconding and the ED and CBI are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt relying upon the decision of the Apex Court dated 14th December 2018 in SLP (C) No. 31557 of 2018 in the matter between Brilliant Alloys Private Limited vs. Mr. S. Rajagopal and Others., He submitted that however the Petitioner / financial creditor may be protected for some limited period of time. 7. In above circumstances, we dispose of this petition. However, in order to enable the Petitioner to approach the Apex Court, we are inclined to grant Petitioner a limited protection. In order to enable the Petitioner to avail the said remedy we grant limited protection to the Petitioner / corporate debtor Sterling Biotech Limited and accordingly direct that in the event any order in a proceedings filed by Respondent Nos.2 an 3 unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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