TMI Blog2021 (8) TMI 1315X X X X Extracts X X X X X X X X Extracts X X X X ..... me-bound process and if tomorrow Appellant succeeds the suitable orders would follow. Issue Notice - List the Appeal For Admission (After Notice) Hearing on 07th October, 2021. - Company Appeal (AT) (Insolvency) No. 624 of 2021 - - - Dated:- 23-8-2021 - [Justice A.I.S. Cheema] The Officiating Chairperson and [Dr. Alok Srivastava] Member (Technical) For the Appellant: Mr. Arun Kathpal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Settlement offer which the Appellant wanted to make. Learned Sr. Counsel submits that Annexure-A4 shows that during pendency of the Application under Section 7 of IBC the Corporate Debtor and Central Bank of India entered into talks for settlement and compromise Settlement offer was communicated by the Bank. The Document is at Annexure A-4, Page 578. Learned Sr. Counsel submits that Rs. 4 Cror ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had already occurred before Application under Section 7 was filed. Subsequent attempt of the Corporate Debtor trying to settle cannot give a fresh further default. 4. Learned Sr. Counsel for the Appellant wants to argue on the legal issues as to the effect of settlement attempt between the parties during pendency of the Application under Section 7 of IBC. On such basis, the Learned Counsel for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s time-bound process and if tomorrow Appellant succeeds the suitable orders would follow. 7. On the other hand, Learned Counsel for IRP-Mr. Chaitanya Nikte, Advocate is also present and he submits that CoC has already been constituted on 19th August, 2021 and the first meeting of CoC is scheduled on 26th August, 2021. For this reason also, there could be no question of granting any Interim Reli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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