FALCON TYRES LIMITED Vs. GEODIS OVERSEAS PRIVATE LIMITED

JUDGEMENT

(1.) This application has been filed by the plaintiff in CS No.65 of 2011 represented by the Insolvency Resolution Professional, Sri. Anand Ramachandra Bhatt, who has been appointed as such by the National Company Law Tribunal, Bengaluru Bench, in CP(IB) No.01/BB/17 dated 30.08.2017, seeking to record the factum of appointment and to stay all further proceedings in CS No.65 of 2011, pursuant to the earlier orders of this Court, on the ground that the proceedings cannot go on in view of the bar created, under Section 14 read with Section 238 of the Insolvency and Bankruptcy Code 2016.

(2.) This case has a chequered history. The original suit in CS No.65 of 2011 was filed by M/s. Falcon Tyres Limited, a Limited Company seeking the following reliefs:

(3.) It appears that several interlocutory applications were taken out in the suit for injunction restraining the 1st defendant, viz. M/s.Geodis Overseas Pvt. Ltd. (India) from encashing the Bank guarantees executed by the plaintiff. Several orders were passed from time to time by this Court. The earliest of the orders passed was on 21.04.2011 in OA No.87 of 2011 and Application No.1397 of 2011. The original application in OA.No.87 of 2011 was filed seeking an order of injunction directing the respondents/defendants to clear 87 units covered by 9 Invoices under 9 EPCG licences as per Schedule to be released from CFS immediately upon payment of customs duty by the plaintiff. Application No.1397 of 2011 was filed by the 1st defendant in the said suit seeking to vacate the interim order granted on 28.01.2011 in Original Application No.87 of 2011. A common order was passed in the said applications and this Court had issued the following directions in the said common order.