M. SESHAVATHARAM Vs. NATIONAL COMPANY LAW TRIBUNAL

JUDGEMENT

(1.) Heard Mr. L.Ravichander, learned Senior Counsel appearing for Mr. Mayur Mundra, learned counsel for the petitioner; Mr. K.Raghavendra Rao, learned counsel for respondent No.2; and Mr. P.Vajra Lakshmi Subba Rao, learned counsel for respondent No.3.

(2.) By filing this petition under Article 226 of the Constitution of India petitioner has assailed legality and validity of the order dtd. 30/3/2021 passed by the National Company Law Tribunal, Hyderabad Bench-I, Hyderabad (for short, 'NCLT' hereinafter).

(3.) By the aforesaid order, NCLT dismissed the interlocutory application filed by the petitioner under Sec. 60(5) of the Insolvency and Bankruptcy Code, 2016 (briefly, 'IBC' hereinafter) read with Rule 17 of the National Company Law Tribunal Rules, 2016 as well as under Sec. 420 of the Companies Act, 2013 seeking dismissal of the application filed under Sec. 7 of the IBC being C.P. (IB) No.681/7/HDB/2018 as being barred by limitation and thereafter to declare all further proceedings based on the Corporate Insolvency Resolution Process as infructuous.