IFCI FACTORS LIMITED Vs. RAMSARUP INDUSTRIES LIMITED

JUDGEMENT

(1.) I.A. No. 13840/2018 (seeking leave to defend) and I.A. No.13841/2018 (for delay) : Plaintiff - IFCI Factors Limited has filed the present suit under Order XXXVII CPC against the Defendants - assignor/principal borrower, Ramsarup Industries Limited, and guarantor, Mr. Ashish Jhunjhunwala - Defendant No. 2. The suit was registered and summons were issued. Defendant No.1 - Ramsarup Industries Limited filed I.A. No.7212/2018 under Section 151 CPC read with Section 14 of the Insolvency and Bankruptcy Code, 2016 (hereinafter 'IBC') for stay of the present suit proceedings. On 7th September, 2018, it was ordered as under:

(2.) Defendant No.2 had filed I.A. No.13840/2018 seeking leave to defend. The same was filed with condonation of delay in re-filing being I.A. No.13841/2018. Delay in re-filing of the said application is condoned. I.A. is disposed of.

(3.) Submissions were heard on the application for leave to defend.