EDELWEISS ASSETS RECONSTRUCTION CO LTD Vs. PSL LTD

JUDGEMENT

(1.) Learned Advocate Mr. Baiju Bhagat present for Applicant. Learned Senior Advocate Mr. Navin Pahwa with Learned Advocate Ms. Ritu Shah present for Respondent in IA 7/2018.

(2.) Heard arguments of learned Counsel for Applicant. This application is filed under section 65 of IB code by Financial Creditor seeking not to appoint the IRP proposed by the Corporate Applicant and appoint the IRP named by the Financial Creditor.

(3.) Since the CIRP is not yet commenced this Authority is of the considered view that this application is not maintainable at the instance of Financial creditor at this stage. However, Financial creditor can raise their please, if any, in CP(IB) 37/2017 in their objections.