National Company Law Appellate Tribunal
JM Financial Asset Reconstruction Company Ltd vs Raj Kumar Ralhan & Ors on 1 September 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 738 of 2020
IN THE MATTER OF:
JM Financial Asset Reconstruction
Company Ltd.
… Appellant
Versus
Raj Kumar Ralhan & Ors.
…Respondents
Present:
For Appellant :
Mr. Abhishek Anand and Mr. Viren Sharma, Advocates For Respondents :
Mr. Sumesh Dhawan, Ms. Geetika and Ms. Approva Chaudhary, Advocates
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O R D E R
(Through Virtual Mode)
01.09.2020 Mr. Abhishek Anand, learned counsel for the Appellant submits that hearing in C.A. 389/2019 pending before the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh is unduly protracted and the matter gets adjourned time and again without any substantial progress. It is submitted that the order under challenge is also an order of the type /a specimen to show how the matter is dragging on. C.A. No. 389/2019 is stated to be posed for hearing on 7th September, 2020.
Appeal, in the given circumstances, is disposed of with the direction to the Adjudicating Authority to hear and dispose of C.A. 389/2019 with utmost expedition and compliance report in this regard shall be submitted to the Registrar of this Appellate Tribunal within three weeks.
[ Justice Bansi Lal Bhat ] Acting Chairperson
[Justice Venugopal M.] Member (Judicial)
[ Shreesha Merla ] Member (Technical) /ns/gc/