(Rohinton Fali Nariman and Surya Kant, JJ.)
Rathi Steel and Power Ltd. ___________________________ Petitioner;
v.
Reserve Bank of India and Others __________________ Respondent(s).
Writ Petition (Civil) No. 204/2019, decided on August 6, 2019
(With IA No. 30942/2019 – Ex-Parte Stay)
Writ Petition (Civil) No. 204/2019 and Writ Petition (Civil) No. 204/2019
The Order of the court was delivered by
Order
1. We are informed that in the facts of the present case, the National Company Law Tribunal has already heard all the concerned parties and reserved judgment on 12.02.2019. The parties are now to approach the NCLT to reopen the proceedings so that the parties may be heard only on one point, viz., as to whether the insolvency proceedings were initiated pursuant to the Reserve Bank of India’s Circular dated 12.02.2018 or they were initiated independent of such circular.
2. The NCLT to fix a date within next two weeks in order to hear the parties only on this point and then to proceed to judgment on all points.
3. The writ petition stands disposed of accordingly.
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