TMI Blog2021 (11) TMI 485X X X X Extracts X X X X X X X X Extracts X X X X ..... without jurisdiction. What has also weighed with the learned Single Judge is the Appellant s own case that it has taken possession of the subject properties and merely because it has been directed to maintain status quo, no grave or irreparable loss is caused. There are no infirmity with the observations of the learned Single Judge and the order passed, which is impugned in the present appeal. Learned Senior Counsel does not dispute that the application for vacation of stay is pending adjudication and is listed on 15.11.2021 - appeal dismissed. - LPA 388/2021 - - - Dated:- 26-10-2021 - HON'BLE CHIEF JUSTICE HON'BLE MS. JUSTICE JYOTI SINGH Appellant Through: Mr. Rajiv Nayyar, Senior Advocate with Mr. Raunak Dhillon, Ms. M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (b) Issue a writ in the nature of Certiorari, or any other appropriate writ, order or direction, order or direction, quashing and setting aside the order dated October 05, 2021 passed by Hon'ble National Company Law Tribunal, New Delhi in LA. I. A No.4516 of2021 IN COMPANY PETITION (IB) NO. 472 OF 2021 in as much as the same amounts to continuing of the Status Quo Order; and (c) Pass such other order or orders as this Hon'ble Court may deem fit and proper under the circumstances of the case. 2. We have heard learned Senior Counsels for the parties. 3. Learned Senior Counsel appearing on behalf of the Appellant contends that the learned Single Judge has erroneously dismissed the application seeking stay of the order d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Debtor and stay on the possession notice. Respondent No.1 had purportedly extended some loan facilities to Respondent No.2. The NCLT vide order dated 30.09.2021 ordered status quo with respect to the assets of the Corporate Debtors and aggrieved by the order, the Appellant filed an application being IA No.4516 of 2021 for vacation of the status quo order. However, the NCLT declined to vacate the status quo order despite the Appellant raising an objection to the jurisdiction of the Tribunal. 5. Aggrieved by the order of the NCLT dated 30.09.2021 as also the order dated 05.10.2021 whereby the Tribunal simply adjourned the matter to 15.11.2021 and declined to vacate the stay, the Appellant filed a writ petition before the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of status quo granted on 30.09.2021, which application is pending adjudication before the Tribunal and is now listed on 15.11.2021, the Tribunal will necessarily consider the petitioner's plea that the impugned order was without jurisdiction. Moreover, it is the petitioner's own case that it has already taken possession of the subject properties and therefore merely because it has been directed to maintain status quo, no grave or irreparable loss is likely to be caused to the petitioner if the direction to maintain status quo continues further. However, it is expected that on 15.11.2021 the Tribunal will consider the petitioner's application being I.A.No. 4516/2021 as it has directed all parties to complete pleadings in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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