TMI Blog2022 (9) TMI 913X X X X Extracts X X X X X X X X Extracts X X X X ..... e interest of justice. Hence, status quo is directed to be maintained on the subject property in the instant matter till the next date of hearing. - I.A. No. 955 of 2022 IN Company Appeal (AT) (Ins.) No. 655 of 2020 - - - Dated:- 20-9-2022 - [ Justice Anant Bijay Singh ] Member ( Judicial ) And [ Ms. Shreesha Merla ] Member ( Technical ) For the Appellant : Dr. Gp Capt. Atul Jain ORDER Justice Anant Bijay Singh ; I.A. No. 955 of 2022 has been filed by the Appellant in Company Appeal (AT) (Ins.) No. 655 of 2020. 2. Heard Dr. Gp Capt. Atul Jain who appeared in person on I.A. No. 955 of 2022. The Appellant while pressing the I.A. No. 955 of 2022 submits that he has preferred the instant Appeal being aggrieved and dissa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay on sale of immovable property of the company by UBI SIDBI (Annexure A at page 6 of the I.A.). 4. The Appellant invoking the provision of Section 11 of the NCLAT and also judgment passed by this Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 77 of 2022 referring to paragraphs 9, 10, 13 17 submitted that the Division Bench of this Appellate Tribunal have held that under Rule 11 of the NCLAT Rules, this Appellate Tribunal have power to pass an interim order(s), therefore, this Bench may allow the I.A. No. 955 of 2022 while exercising the power under Rule 11 and immediate stay on sale of immovable property of the company by UBI and SIDBI. 5. The Appellant further relied on another order passed by this Appellate Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IRP Proceedings have been initiated against Tripathi Hospital Pvt. Ltd. or not. Thereafter, the Appeal was taken up on 13.09.2022. The Ld. Counsel for the Respondent No. 1 informed that no CIRP proceedings have been initiated against the Respondent No. 1 till date in any other matter, further he was directed to file affidavit to this effect and the matter was adjourned to 11.10.2022 and on 15.09.2022 the Appellant mentioned the I.A. No. 955 of 2022 to take up for hearing on 16.09.2022 and was heard. 8. It is strenuously argued by the Appellant is that if the Respondent Company and UBI are not restraining from selling or alienating any third party rights on the assets till the disposal of the Appeal, the Appeal would stand infructuous a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), if any, shall stand disposed of. 10. The Appellant also relied on another judgment of this Tribunal in the case of Yes Bank Ltd. Vs. Dewan Housing Finance Corporate Limited Anr., Company Appeal (AT) (Ins.) No. 77 of 2022 in which this Tribunal observed as follows: .. Referring to above Judgement of Hon ble Supreme Court, Learned Counsel for Respondent submits that on 10.09.2021 possession taken by the Appellant in exercise of power under Section 13(4) of the SARFAESI Act, 2002 is not in accordance with law, since although 60 days notice was issued on 31.07.2021 under Section 13(2) but before expiry of 60 days, the possession is claimed to be taken. The Adjudicating Authority has taken into consideration of taking possess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity. We hope and trust that the Adjudicating Authority shall consider the I.A. 4516 of 2021 and the main Company Petition i.e. CP (IB) No. 472/ND/2021 on the next date or as early as possible thereafter. 18. We thus do not find any ground to interfere with the Order dated 31st December, 2021 at this stage. However, as observed above the I.A. 4516 of 2021 as well as main petition i.e. CP(IB) No. 472/ND/2021 be heard and decided at an early date. Both these Appeals are disposed of, accordingly. 11. Keeping in view the facts and circumstances of the present case on hand, we are of the considered view that limited protection till the next date of hearing, be granted to the Appellant in the interest of justice. Hence, we direct th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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