9911796707
TMI Blog2022 (4) TMI 298X X X X Extracts X X X X X X X X Extracts X X X X ..... . 555 of 2020) by the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench, Chandigarh, Hereinafter also referred to as 'the Tribunal'), despite expedite orders of the Appellate Tribunal (National Company Law Appellate Tribunal, New Delhi), we had passed the order dated 26.11.2021 in C.A. No. 6944 of 2021, while expecting the Adjudicating Authority to proceed expeditiously. However, looking to the circumstances of the case, we had restored Company Appeal (AT) (Insolvency) No. 575 of 2021 for further consideration of the Appellate Tribunal while leaving it open for the Appellate Tribunal to pass such other orders as may be required, including that of modifying the ex parte stay order of the Tribunal or of withdrawing the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d deliberately not pursuing any counter claim before DRT, thus leaving the company and the applicant virtually remediless." The record makes out that a few adjournments were taken before the Tribunal as also before Appellate Tribunal with reference to the application so moved in this Court. We find the propositions on the part of the applicant and his approach rather incompatible with the requirements of law as also the requirements of the orders passed by the Appellate Tribunal as also by this Court. As noticed in the order dated 26.11.2021, on the application (IA No. 368 of 2020) moved by the present applicant, the Adjudicating Authority passed an ex parte interim order on 09.09.2020, directing the parties to maintain status quo wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o decide the pending applications and now, the submissions before us on behalf of the respondent No. 1 (applicant) are to the effect that there ought not to be "tearing hurry" in deciding those applications. Such a proposition on the part of the applicant cannot be countenanced, particularly looking to the previous orders passed in the matter, as noticed hereinabove. It is also noticed from the record that though we had restored the said appeal before the Appellate Tribunal so that appropriate and necessary orders could be passed, the Appellate Tribunal has chosen not to pass any other order in the matter, for the reason that the present application was said to be pending in this Court. Taking the totality of facts and circumstances int ..... X X X X Extracts X X X X X X X X Extracts X X X X
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