9911796707
TMI Blog2017 (10) TMI 1563X X X X Extracts X X X X X X X X Extracts X X X X ..... 016. During the pendency of the said case and in view of introduction of Insolvency and Bankruptcy Code, 2016 ('the I & B Code') and pursuant of transfer Notification of 7th December, 2016 issued by Central Government, the matter was transferred from High Court of Bombay to the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. On hearing the counsel for the respondent-Multi Trade, the Adjudicating Authority treated the application under section 9 of the I & B Code, admitted the case, declared moratorium and called for the names from Insolvency and Bankruptcy Board of India ('IBBI') by the impugned order dated 17th August, 2017 which is under challenge in this appeal. At this stage, it is relevant to state ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll abate. (2) All cases where opinion has been forwarded by Board for Industrial and Financial Reconstruction, for winding up of a company to a High Court and where no appeal is pending, the proceedings for winding up initiated under the Act, pursuant to section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 shall continue to be dealt with by such High Court in accordance with the provisions of the Act." 2. In view of the aforesaid rule 5, the application filed under sections 433 and 434 was transferred from High Court to the Adjudicating Authority who treated the application under section 9 and admitted the case. 3. Learned counsel for the appellant submits that no notice under sub-section (1) of section 8 was issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oresaid, we set aside the impugned order dated 17th August, 2017 passed by the Adjudicating Authority in TCP No. 183/I & BP/NCLT/MAH/2017. 7. In effect, order(s) passed by learned Adjudicating Authority appointing the interim resolution professional, declaring moratorium, freezing of account and all other order(s) passed by Adjudicating Authority pursuant to impugned order and action taken by the interim resolution professional, including the advertisement published in the newspaper calling for applications and all such orders and actions are declared illegal and are set aside. The application preferred by respondent is dismissed. Learned Adjudicating Authority will now close the proceeding. The appellant-company is released from all the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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