IN RE Vs. JEKPL LTD

JUDGEMENT

(1.) Cp NO.(IB) 24/ALD/2017, CA NO.223/2017 Sh. Anil Kumar, PCS alongwith Mr. Sandeep Bisht (the representative) , representing the Resolution Professional (RP) of the Corporate Debtor Company (now under CIRP) . Advocate Ms. Gunjan Jadwani for the EXIM Bank.

(2.) The learned PCS appearing for the RP clarified such that no stay has so far been granted by the Hon'ble NCLAT against the proceeding of this Court till 14th December, 2017 and the appeal as preferred by the EXIM bank stands simply adjourned to 5lh January, 2018, Hence, there can be no impediment for this Court to pronounce an order in respect of approval of a resolution plan.

(3.) The learned counsel appearing for EXIM Bank would submit that the bank has not yet been supplied with a copy of the resolution plan. Further, an application seeking for stay of the present proceedings has been filed and is now subjudiced before the Hon'ble NCLAT. However, the PCS representing the RP would submit that he is not aware of filing of such stay application. However, there is no'stay till date. Considering such circumstances, we presume that as of today there is no stay from Hon'ble NCLAT in respect of proceeding of this Tribunal or for pronouncement of order on approval or otherwise of the resolution plan. However, this order would be subject to outcome of pending appeal and appropriate direction that may be issued by the NCLAT in jwitasftg appeal.