(A.M. Khanwilkar and Dinesh Maheshwari, JJ.)
Jaiprakash Associates Ltd. _________________________ Petitioner;
v.
IDBI Bank Ltd. _________________________________ Respondent.
Miscellaneous Application No(s). 540 of 2020 In C.A. No. 8437/2019, decided on February 3, 2020
(For Admission and IA No. 19152/2020-Clarification/Direction IA No. 19152/2020 – Clarification/Direction)
The Order of the court was delivered by
Order
1. This application is filed by the Interim Resolution Professional pointing out the unavoidable circumstances which have delayed the culmination of the proposal for approval of resolution plan though submitted within the time-frame prescribed by this Court. For reasons stated in the application, we accede to the request of the Interim Resolution Professional and allow this miscellaneous application in terms of prayer clause (a) which reads thus:
“a. Pass an appropriate direction for extension of time of four-weeks from 03.02.2020 to the Principal Bench, National Company Law Tribunal to pass orders in Company Application No. 5 of 2020 filed by the IRP for approval of resolution plan under Section 30(6) read with Section 31 of Insolvency and Bankruptcy Code, 2016 and to consider other relevant applications.”
2. The time, as prayed, is extended for the time being in terms of prayer clause (a).
3. We need to record the fact brought to our notice that some Public Interest Litigation has been filed to question the transfer of proceedings from National Company Law Tribunal, Allahabad Bench, Allahabad to National Company Law Tribunal, Principal Bench, New Delhi. Considering the fact that timeline for conclusion of resolution process has been specified by this Court and the entire issue regarding the said process pertaining to Jaypee Infratech Limited is brought before this Court, in the interests of all concerned, we deem it appropriate to suo motu withdraw the stated Public Interest Litigation (PIL) No. 97 of 2020 titled as Company Law Tribunal Bar Assn. (CLTBA), Allahabad Bench v. Union of India to this Court, so as to avoid any conflicting directions being passed by the High Court and moreso to ensure compliance of the time-frame specified by this Court. We order accordingly.
4. The Registry shall take necessary steps for calling for the transferred proceedings and register it as a transferred case, to be placed before the appropriate bench of this Court.
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