Edelweiss Asset Reconstruction Company Limited vs GUPTA SYNTHETICS LTD on 12 December 2023

DRT1 MUMBAI 12/12/2023 Ex. No. Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai. Roznama in TA 339 of 2016 Edelweiss Asset Reconstruction Company Limited Vs Gupta Synthetics Ltd Next date Advocate Bhavesh Poojary i/b MDP & Partners appeared for the Applicant. Advocate Mangesh Patel appeared for the Defendant no. 2 to 5. Ld. Counsel for the Defendant No.2 to 5 submits that the Defendant No.2 to 5 have filed Application to initiate insolvency resolution process under Section 94 of the Insolvency and Bankruptcy Code, 2016 before the Ld. NCLT, Mumbai and Ld. NCLT accepted and acknowledged the receipt of the matter thus, he submits that the proceeding of the present OA may kindly be stayed. Since NCLT proceeding initiated qua Defendant No.2 to 5 thus, the moratorium/interim moratorium shall be applicable on the present proceeding. Insofar as proceeding against the Defendant No.1 is concerned, the Defendant No.1 Company is already under the

DRT1 MUMBAI Sgj/-23 liquidation and Official Liquidator has already been appointed in respect of the Defendant No.1 Company. In view of the above, the present TA is disposed off with liberty to the Applicant to revive the same as and when required. File be closed and consigned to the record room. P.O. DRT-I