SREI EQUIPMENT FINANCE LIMITED Vs. RAJESH BAJIRAO KHANDEWAR

JUDGEMENT

(1.) Heard. Rule. Rule is made returnable forthwith and by consent of the learned Counsel appearing for the parties, the matter is taken up for final disposal.

(2.) The petitioner by way of this petition challenges the order passed by the District Consumer Dispute Redressal Commission, Akola in Consumer Complaint No.312/2021 dtd. 20/7/2022, whereby the learned District Consumer Commission allowed the complaint filed by the respondent no.1 and directed the petitioner to return the JCB Machine to respondent no.1. Another prayer is to quash and set aside the order dtd. 19/6/2024 whereby bailable warrants are issued against the owner and Chief Executive Officer of petitioner no.1 Company.

(3.) Facts of the case are such that - the petitioner is a Company registered under the Companies Act. Respondent Nos.2 and 3 are its employees. On 4/10/2021 the Reserve Bank of India issued a notification superseding the Board of Directors of the petitioner Company. Pursuant to that, the Reserve Bank of India has preferred an application before the National Company Law Tribunal, Kolkata bench bearing CT (IB) No.2904/2021 for initiation of insolvency resolution process. By order dtd. 8/10/2021, the application was admitted and moratorium under Sec. 14 of the Insolvency and Bankruptcy Code (hereinafter referred to as "the I.B. Code" for short"), came to be imposed. It is submitted that the resolution plan of the petitioner Company has been sanctioned by the National Company Law Tribunal, Kolkata Bench vide order dtd. 11/8/2023.