Ramesh Ranganathan - (1.) In this Writ Petition, a writ of mandamus is sought to declare the order passed by the Chief Metropolitan Magistrate, Hyderabad, in Crl.MP. No.2479 of 2013 dated 17.08.2013, as arbitrary, illegal and violative of the moratorium order passed by the National Company Law Tribunal ('NCLT' for short) dated 19.07.2017 under Section 14 of the InsolvencyBankruptcy Code, 2016 ('IBC' for short); and for a consequential direction to the respondents not to take any further steps to execute the warrant dated 12.07.2018, including dispossessing the petitioner company, from the property situated at 36, Sarojini Devi Road, Secunderabad, during the pendency of the Corporate Insolvency Resolution Process.
(2.) Facts, to the extent necessary, are that the NCLT passed an order, under Section 7 of the IBC on 19.07.2017, appointing an interim Resolution Professional in the exercise of its powers under Section 16 of the IBC. Pursuant thereto the Corporate Insolvency Resolution Process ('CIRP' for short) of the petitioner commenced from 19.07.2017. By its order dated 19.07.2017, the NCLT also declared a moratorium, under Section 14 of the IBC, prohibiting the following action: (i) the institution of Suits, or the continuation of pending Suits or proceedings except before the High Court and Supreme Court against the Corporate Debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (ii) transferring, encumbering, alienating or disposing of, by the Corporate Debtor, of any of its assets or any legal right or beneficial interest therein; (iii) any action to foreclose, recover or enforce any security interest created by the Corporate debtor in respect of its property, including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act' for short); (iv) recovery of any property by an owner or the lessor, where such property is occupied by, or is in the possession of, the corporate Debtor; and (v) goods and services i.e., water, electricity, printing ink, printing plates, printing blanket, solvents etc., falling under Section 14(2) of the IBC, and which are essential goods and services to the corporate debtor, shall not be terminated or suspended, and interrupted during the moratorium period.
(3.) The Insolvency Resolution Professional ("IRP" for short) issued a public announcement on 20.07.2017 inviting claims from the creditors of the petitioner-corporate debtor, and thereafter a committee of creditors ("CoC" for short) of the petitioner company, in respect of the claims received from its creditors, was constituted, of which the 1st respondent was a member. Since one of the financial creditors i.e. SREI Infrastructure Finance Limited ('SREI' for short) was denied the right to represent, participate and vote in the meetings of the CoC, they filed an application seeking permission to participate. While the NCLT initially granted interim relief, by its order dated 21.07.2017, the said application was subsequently dismissed by order dated 16.11.2017.;