I. Case Reference
| Case Citation | : | (2022) ibclaw.in 475 NCLAT |
| Case Name | : | ICICI Bank Ltd. Vs. Sudhir Narayanrao Modak & Ors. |
| Appeal No. | : | Company Appeal (AT) (Insolvency) No. 714 of 2022 |
| Judgment Date | : | 04-Jul-22 |
| Court/Bench | : | NCLAT New Delhi |
| Present for Appellant(s) | : | Mr. Ankur Mittal, Meera Murali, Yashika Sharma, Advocates |
| Present for Respondent(s) | : | Mr. Abhishek Anand, Mohak Sharma, Advocates for R-1 to R-3. Mr. Sajeve Bhushan Deora, for RP, R-4. |
| Chairperson | : | Mr. Justice Ashok Bhushan |
| Member (Judicial) | : | Justice M. Satyanarayan Murthy |
| Member (Technical) | : | Mr. Barun Mitra |
II. Full text of the judgment
O R D E R
(Virtual Mode)
04.07.2022: Heard Learned Counsel for the Appellant as well as Respondent Nos. 1 to 3 and Learned Counsel appearing for the Resolution Professional.
2. This Appeal has been filed against the Order dated 28th June, 2022 passed by the Adjudicating Authority in I.A. No. 2713 of 2022. In the I.A., Notices were issued earlier and on Application filed by the Applicant, an Interim Order was passed directing Status Quo be maintained with regard to the property in question in the meantime and the matter was directed to be listed before the Regular Bench on 04th July, 2022 .
3. Mr. Ankur Mittal, Learned Counsel for the Appellant submits that the auction sought to be stayed by status quo order was not against the properties of the Corporate Debtor. The Adjudicating Authority itself having fixed the matter on 04th July, 2022 i.e. today before the Regular Bench, we see no reason to entertain this Appeal. We however looking to the nature of the Order, request the Adjudicating Authority to dispose of the I.A. No. 2713 of 2022 at an early date after hearing the Applicant and the Appellant before us.
With these observations, the Appeal is disposed of.
[Justice Ashok Bhushan]
Chairperson
[Justice M. Satyanarayan Murthy]
Member (Judicial)
Mr. Barun Mitra]
Member (Technical)
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