TaxTMI 
TaxTMI 
2020 (1) TMI 1259
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.... IBC, 2016 and read with Rule 11 of the NCLT Rules, 2016. In this application, the petitioner prays for review/recall of the Order dated 25.06.2019 passed by this Adjudicating Authority in IA No. 21/CTB/2019. 2. Applicant submits that Corporate Insolvency Resolution Process was initiated by State Bank of India in CP (IB) No. 24/KB/2018 before NCLT, Kolkata Bench. By Order dated 21.12.2017 NCLT, Kolkata Bench admitted the Company Petition and Corporate Insolvency Resolution Process commenced. IA No. 21/CTB/2019 was filed by the respondent/Opposite Party/Corporate Debtor on the ground that the Reserve Bank of India had issued instruction without concurrence of the Government of India. Hence, the Order in CP (IB) No. 24/KB/2018 was reversed. ....
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....ainst the impugned Interim Order dated 27th June, 2018 passed by the Hon'ble High Court of Orissa at Cuttack in Writ Appeal No. 237 of 2018; (b) Pass such other order or orders as this Hon'ble Court may deem fit and proper in the facts and circumstances of the case. Interim Prayer: - (a) Direct the Ld. National Company Law Tribunal to proceed with the Corporate Insolvency Resolution Process filed by the petitioner bank under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) before the NCLT, Kolkata Bench vide CP (IB) No. 24/KB/2018; (b) Direct stay of operation of the Interim Order dated 27.06.2018 passed by the Hon'ble High Court of Orissa at Cuttack in Writ Appeal No. 237 of 2018; (c) Pass such other or fur....
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....upreme Court, the plain reading of the Order is a permission sought by the applicant and the grant of the same by the Hon'ble Supreme Court. There is no direction or observation made by the Hon'ble Supreme Court in respect of the IA (IB) No. 21/CTB/2019. There is no specific direction or a permission to file a review petition. Furthermore, there is no provision for review under the Insolvency and Bankruptcy Code, 2016. 6. Definitions of Article 142 of Indian Constitution are as follows - "142. (1) The Supreme Court in the exercise of its jurisdiction may pass such decree or make such order as is necessary for doing complete justice in any cause or matter pending before it, and any decree so passed or order so made shall be enforc....
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....erson, including claims by or against any of its subsidiaries situated in India; and (c) Any question of priorities or any question of law or facts, arising out of or in relation to the insolvency resolution or liquidation proceedings of the Corporate Debtor or corporate person under this Code. " Definitions of Rule 11 of National Company Law Tribunal Rules, 2016 are as follows - "Inherent Powers: - Nothing in these rules shall be deemed to limit or otherwise affect the inherent powers of the Tribunal to make such orders as may be necessary for meeting the ends of justice or to prevent abuse of the process of the Tribunal. " 9. In the above provision, there is no specific power to review its own order. 10. The IA (IB) No. 21/CTB/2019....