AXIS BANK LIMITED Vs. VIDARBHA INDUSTRIES POWER LIMITED

JUDGEMENT

(1.) This petition for review was listed for open Court hearing, since it was mentioned and submitted that this Court had overlooked the judgment of this Court in E.S. Krishnamurthy & Ors. vs. Bharath Hi-Tech Builders Pvt. Ltd. reported in (2022) 3 SCC 161, to which the attention of this Court had not been drawn. Our attention has been drawn to two paragraphs of the said judgment, which paragraphs are extracted hereinbelow for convenience.

(2.) The learned Solicitor General has specifically emphasised on paragraph 34 which reads "Based upon its decision, the adjudicating authority must then either admit or reject an application, respectively. These are the only two courses of action which are open to the adjudicating authority in accordance with Sec. 7(5). The adjudicating authority cannot compel a party to the proceedings before it to settle a dispute."

(3.) In paragraph 31, extracted hereinabove, to which reference has been made by the learned Solicitor General of India, this Court observed that two courses of action are available to the adjudicating authority in a petition under Sec. 7. The adjudicating authority must either admit the application under clause (a) sub-sec. (5) or it must reject the application under clause (b) of sub-sec. (5). The statute does not provide for the adjudicating authority to undertake any other action, but for the two choices available.