National Company Law Appellate Tribunal
Prudent ARC Ltd vs Vikram Bajaj & Ors on 23 December 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 1102 of 2020
In the matter of:
Prudent ARC Ltd.
....Appellant
Vs.
Vikram Bajaj & Ors.
....Respondents
Present:
Appellant:
Mr. Gaurav Mitra, Mr. Shivam Goel, Mr. Ankit Singal, Advocates.
Respondents:
Mr. Abhishek Anand, Mr. Kunal Godhwani, Mr. Rahul Adlakha, Mr. Pathik Choudhary, Advocates for R1.
ORDER
(Through Virtual Mode) 23.12.2020: After hearing Mr. Gaurav Mitra, Advocate representing the Appellant, we find that the Adjudicating Authority (National Company Law Tribunal), Jaipur Bench (Camp at Chandigarh), has adjourned the matter to 8th January, 2021. He submitted that the Adjudicating Authority is not adhering to the timelines prescribed under the Insolvency and Bankruptcy Code, 2016 (“I&B Code” for short) and proceeding has got protracted.
Having regard to the time bound schedule provided under the “I&B Code”, we dispose of this appeal with a request to the Adjudicating Authority to ensure that the proceedings are disposed of expeditiously keeping the timelines prescribed under the ‘I&B Code’ in view and no adjournment is granted beyond date fixed i.e. 8th January, 2021.
Copy of this order be communicated to the Adjudicating Authority, Jaipur Bench.
[Justice Bansi Lal Bhat] Acting Chairperson
[Justice Anant Bijay Singh] Member (Judicial)
[Dr. Ashok Kumar Mishra] Member (Technical) AR/g
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