STATE BANK OF INDIA Vs. ADHUNIK METALIKS LTD

JUDGEMENT

(1.) Ld. Counsel for the Resolution Professional (RP) and the Ld. Counsel for the financial creditor are present. CA(IB) no. 559/KB/2017 in CP(IB) No. 373/KB/2017 has been filed with a prayer for staying the operation of the order dated 31/08/2017 passed by the respondent no. 2 and restrain their men, agents, servants from taking any further steps and/or coercive steps pursuant to the order dated 31/08/2017 till the moratorium period is completed. Shri Debasis Kar, Asstt.

(2.) Commissioner, Central Excise Rourkela Commissionerate appearing on behalf of respondent no. 2 prayed that time may be given for filing reply. Prayer is allowed. Reply may be filed within 7 days with a copy in advance to the opposite party. Thereafter rejoinder, if any, may be filed within 7 days with a copy in advance to the opposite party.

(3.) It is to be made clear that moratorium period is effective from 03/08/2017 and during the moratorium period except which has been notified u/s. 14(3) of the Insolvency and Bankruptcy Code, 2016 by the Central Government in consultation with any financial sector regulator all other proceedings are stayed.