Can Adjudicating Authority allow an Interlocutory Application(IA) filed after the matter is reserved for Order in an application u/s 7 of IBC- Loramitra Rath Suspended Director of Maa Durga Commotrade Pvt. Ltd. Vs. JM Financial Asset Reconstruction Company Ltd. – NCLAT New Delhi
NCLAT held that it is a well settled proposition of law that the two stages of reserving of judgment and pronouncement of judgment are in a continuum with no hiatus or gap as such in the two stages. That being the well accepted and time-tested practice in court proceedings, subsequent pleadings filed by way of an I.A. after the judgement is reserved is normally not entertained for reasons of procedural propriety.
