ATEET BANSAL Vs. JAIPRAKASH INFRATECH LTD

JUDGEMENT

(1.) Sri Prakhar Tandan proxy for the petitioner counsel. Advocate, Shri R.P. Agarwal, counsel for the respondent company. The Respondent company files an affidavit dated 28"' August, 2017 informing such the amount of maturity value fixed Deposit, which is inclusive of interest till date of maturity has now been paid. Hence, cause of action of the present petition does not survive and present petition liable to be dismissed. The learned counsel further points out that this Tribunal in the case of Anjana Sehgal vs. J.P. Associates in C.P. No. 26/2017 has pleased to dispose of the petition granting a liberty to the petitioner to file fresh one in accordance with law.

(2.) We considering the above and stated factual position of present case and heard the argument of learned counsel for both the parties. Further, it is now a matter of record, as a subsequent development took place in respect of the respondent company (as per an order passed in Infratech Pvt. Ltd.) The Corporate Insolvency resolution process has been initiated appointing an IRP. Therefore, the petitioner is at liberty to take necessary action in accordance with law before the IRP.

(3.) With the above stated observation, the CP No. 85/ALD/2017 and CP No. 88/ALD/2017 stands finally disposed of. No order as to costs.