National Company Law Appellate Tribunal
Pravin R Navandar vs Deepak Anant Pednekar and Ors on 26 November 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 1010 of 2020
IN THE MATTER OF:
Pravin R Navandar
…Appellant
Vs.
Deepak Anant Pednekar and Ors.
…Respondents
Present:
For Appellant :
Mr. Shyam Kapadia, Mr. Aditya V. Singh and Mr.
Vishnu Shriram, Advocates
For Respondents :
Mr Arik Arsiwala, Ms. Radhika Motiani and Mr. Amir Arsiwala, Advocates for Respondent Nos. 5 & 6
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O R D E R
(Through Virtual Mode)
26.11.2020 The only concern raised in this appeal is that I.A. No. 1018 of 2020 in C.P. (IB) 2742/MB/2019 was heard on 15th July, 2020 and the orders were reserved but despite lapse of more than four months, the order has not been pronounced.
After hearing Mr. Shyam Kapadia, Advocate for the Appellant and Mr. Arik Arsiwala (who appeared on advance notice), Advocate for Respondent Nos. 5 & 6 we are of the view that this appeal can be disposed of without issuing a formal notice. Inordinate delay has been caused in disposal of the interim application. Ends of justice would be defeated if the matter gets further protracted, more so as the matter is said to be governed by the ‘Insolvency and Bankruptcy Code’ which prescribes timelines for bringing the ‘CIRP’ to its logical conclusion within the given timelines.
This appeal is accordingly disposed of by requesting the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Special Bench,
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Court No. II to pronounce the order reserved on 15th July, 2020 with utmost expedition, preferably within a week. We would appreciate that disposal of the matter is accorded top priority and compliance in regard to the disposal is reported to this Appellate Tribunal.
A copy of this order be communicated to the National Company Law Tribunal), Mumbai Bench, Special Bench, Court No. II forthwith.
[ Justice Bansi Lal Bhat ] Acting Chairperson
[ Justice Anant Bijay Singh ] Member (Judicial)
[ Shreesha Merla ] Member (Technical)
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Company Appeal (AT) (Insolvency) No. 1010 of 2020