- (1.) Cano. 222 of 2017 This is an application filed by erstwhile Corporate Debtor with a prayer for recall of the order of admission dated 31.03.2017 passed by this Tribunal on the application filed by the Financial Creditor, namely Alchemist Asset Reconstruction Company Limited under Section 7 of the Insolvency & Bankruptcy Code, 2016. It is appropriate to mention, at the outset, that the admission order dated 31.03.2017, passed by this Tribunal, was challenged by the applicant in a Writ Petition No. 4960 of 2017 before a Division Bench of the Rajasthan High Court. The Rajasthan High Court, vide order dated 06.04.2017, observed as under: "Office objection stand overruled. It's a matter where Financial Creditor the respondent herein filed application under Section 7 of the Insolvency and Bankruptcy Code 2016 (Code 2016) read with S.4 of the (Insolvency And Bankruptcy Application to Adjudication Authorities) , 2016 before the National Company Law Tribunal on 9/03/2017 and sent the application along with documents annexed thereto by registered post to the Corporate Debtor which as alleged was served on 14.3.2017. According to the petitioner, the respondent filed application u/S.7 of the Code 2016 and served in the office of the petitioner corporate debtor on 16/03/2017 and the matter was listed before the Tribunal on 16/03/2017 and adjourned to 17/03/2017 and on 17.3.2017, reply could not be filed by the petitioner and filed reply on 20.3.2017 with preliminary objection regarding maintainability of the application and after due adjudication and taking note of the submissions/counter submissions made by the respective parties, it was reserved for orders on 23.3.2017 and order was pronounced on 31.3.2017 assigning reasons in support thereof and we consider appropriate to quote the operative part of the order of the Tribunal which reads ad infra 15. Keeping in view all of the above we are inclined to admit the petition as well as grant a moratorium in terms of Sec. 14 of the IBC to be enjoyed by the Corporate Debtor. The interim Resolution Professional proposed in Form 1 of the petition who has also given his consent as prescribed in Form 2 is hereby appointed as the Interim Resolution Professional to exercise all powers and subject to all duties as contemplated under the provisions of the IBC". 16. In the circumstances the petition is admitted on the above terms and the parties will offer their cooperation to the interim Resolution Professional (IRP) to discharge the duties enjoined on him as contemplated under IBC".
(2.) While admitting the petition and grant of moratorium in terms of Sec. 14 of the IBC to be enjoyed by the Corporate Debtor and Interim Resolution Professional has been appointed to exercise all powers and subject to all duties as contemplated under the provisions of Sec. 18 of the Code and further process has to be followed in terms of Interim Resolution Professional obviously as per provisions of the Code 2016.
(3.) It is indeed appealable order before the National Company Law Appellate Tribunal u/ S.61 of the Code 2016 which so far has not been exercised by the petitioner.;