National Company Law Appellate Tribunal
State Bank of India vs Nutrionex Manufacturers Ltd on 24 February 2021
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI
Company Appeal (AT) (Insolvency) No. 127 of 2021
In the matter of:
State Bank of India
....Appellant
Vs.
Nutrionex Manufacturers Ltd.
....Respondent
Present:
Appellant:
Mr. Ankur Mittal, Mr. Karan Setiya, Advocates.
Respondent:
ORDER
(Through Virtual Mode)
24.02.2021: Appellant is aggrieved of withholding of order on the part of the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-IV who is said to have reserved orders in regard to admission of Appellant’s application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“I&B Code” for short) more than four months before. On its attention being invited, I.A No. 540/ND/2021 was disposed off with observation that the order will be passed in due course.
2. After hearing learned counsel for the Appellant and keeping in view the mandate of Section 7(4) of the ‘I&B Code’ enjoining upon Adjudicating Authority to pass order of admission or otherwise of application under Section 7 within 14 days of receipt of such application, we dispose off this appeal with direction to the Adjudicating Authority to dispose off the matter within one week by passing an order of admission or otherwise on merits of the case.
Contd/-…………..
-2-
Copy of this order be communicated to the Adjudicating Authority with direction to report compliance in this regard.
[Justice Bansi Lal Bhat] Acting Chairperson
[Dr. Ashok Kumar Mishra] Member (Technical)
AR/g
Company Appeal (AT) (Insolvency) No. 127 of 2021
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