LALIT SANDUJA Vs. VIKAS MITTAL

JUDGEMENT

(1.) The Writ Petition under Article 226 and 227 of the Constitution of India has been filed for directing Respondent No.56 to hear the Company Appeal filed by the Petitioner vide Filing No.9910136/13899/2024 against the Order dtd. 19/12/2024 by the Adjudicating Authority and to grant an ex-parte stay of the Order dtd. 19/12/2024.

(2.) It is submitted on behalf of the Petitioner that the NCLAT is on vacation and there is no Vacation Bench which has been constituted. The Interim Resolution Professional has been appointed who are already in the process of taking over the properties of the Company and if they are successful in doing so, the right of Appeal of the Petitioner shall be defeated. The urgency is, therefore, pleaded for requisite directions to be issued.

(3.) Learned counsel on behalf of Respondent No.55 submits that Insolvency Resolution Professional has already issued Notice and the properties of the Company are in the process of being taken over. Moreover, the NCLAT which is on vacation, would commence its functioning from 2/1/2025. The impugned Order is of 19/12/2024 and there is no urgency for issuing of directions as prayed for.