National Company Law Appellate Tribunal
Surendra Singh Hada & Ors vs Arfat Petrochemicals Pvt Ltd on 16 February 2021
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI
Company Appeal (AT) (Insolvency) No. 93 of 2021
In the matter of:
Surendra Singh Hada & Ors.
....Appellant
Vs.
Arfat Petrochemicals Pvt. Ltd.
....Respondent
Present:
Appellants:
Mr. Pankaj Jain, Mr. Aman Shankar, Advocates.
Mr. Habib Khan (AR)
Respondent:
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ORDER
(Through Virtual Mode)
16.02.2021: Application under Section of the Insolvency and Bankruptcy Code, 2016 (“I&B Code” for short) is pending consideration before the Adjudicating Authority (National Company Law Tribunal), Ahmedabad bench, Court No.1, for more than 840 days transcending the prescribed time limit. This is a disturbing trend and needs to be curbed.
2. After hearing Mr. Pankaj Jain, Advocate representing the Appellant, we deem it appropriate to dispose off this appeal with direction to the Adjudicating Authority to ensure that the provisions of the ‘I&B Code’ in regard to timelines are adhered to scrupulously and all endeavors be made to dispose off the matter pending before it with utmost expedition preferably within four weeks. Compliance shall be reported to this Appellate Tribunal. Contd/-……….
Copy of the order be communicated to the Adjudicating Authority forthwith.
[Justice Bansi Lal Bhat] Acting Chairperson
[Dr. Ashok Kumar Mishra] Member (Technical)
AR/g
Company Appeal (AT) (Insolvency) No. 93 of 2021