1. I.A. No. 541 of 2024: This is an application filed by the Resolution Professional praying for following reliefs:
“i. Allow the present Application;
ii. Permit the Applicant to proceed with Corporate Insolvency Resolution Process of the Corporate Debtor by issuance of fresh Form G during the pendency of C.A. No. 01 (PB) of 2018 before the Ld. Adjudicating Authority; and;
iii. Such other and further orders be passed as facts and circumstances of the case may require.”
2. The Company Appeal (AT) (Ins) No.14 of 2022 and Company Appeal (AT) (Ins) No.15 of 2022 were decided by our judgment and order dated 15.12.2022. In Para 51 of the judgment we have issued following directions:
“51. In view of the fore-going discussions, Company Appeal (AT) Ins. No. 14 of 2022 is disposed of in following manner:
i. The Order dated 01.11.2021 passed in C.A. No. 1090(PB)/2020 in so far as it canceled the approval given to the Resolution Plan by Order dated 04.01.2022 as well as forfeiting Rs. 20 Crores deposited by the Resolution Applicant is affirmed.
ii. The Order dated 01st November, 2021 in so far as direction No. III is concerned, is set aside.
iii. National Company Law Tribunal, Principal Bench, New Delhi is requested to dispose of C.A. No. 01 of 2018 within a period of three months from the date when copy of this Judgement is produced for the reasons as noted above.
iv. The Resolution Professional after decision of C.A. No. 01 of 2018 may invite fresh ‘Expression of Interest’ and complete the process within two months thereafter. The period of CIRP shall be treated to have been extended till then.
v. Company Appeal (AT) Ins. No. 15 of 2022 is dismissed. No order as to costs.”
3. Learned counsel for the Applicant submits that CA No.1018 with regard to direction issued in (iv) has not yet decided although more than one year has elapsed and due to which no progress could be made in the CIRP.
4. We are of the view that we having already decided the Appeal by our order dated 15.12.2022, no further direction are required except clarification with regard to change of subsequent circumstances that it is open for the Applicant to file an appropriate application before the Adjudicating Authority praying for such relief as may be permissible in law. We only clarify that it shall be open for the Adjudicating Authority to take note of the circumstances and pass order on the said application. We further observe that in event an application is filed as per the liberty granted by this order, the same shall be expeditiously disposed of by the Adjudicating Authority preferably within a period of one month from the date filing of the application. Application is disposed of accordingly.
