JAIN SONS FINLEASE LIMITED Vs. SHILPI CABLE TECHNOLOGIES LTD
LAWS(NCLT)-2017-12-322
NATIONAL COMPANY LAW TRIBUNAL
Decided on December 19,2017

JAIN SONS FINLEASE LIMITED Appellant
VERSUS
Shilpi Cable Technologies Ltd Respondents

JUDGEMENT

- (1.) Mr. Vashist, learned Senior Counsel has placed on record a copy of the judgment rendered by Hon'ble Supreme Court in Civil Appeal No. 15135 of 2017 with Civil Appeal Nos. 15481 of 2017 & 15447 of 2017 decided on 15.12.2017 in the matter of Macquarie Bank Limited v. Shilpi Cable Technologies Ltd. and has pointed out that the provisions of Section 9(3) (c) is not mandatory and also issuance of notice by an Advocate on behalf of the Operational Creditor cannot also be considered as illegal.
(2.) The matter has now been remanded back to the Hon Trie National Company Law Appellate Tribunal, which is likely to take some time. It is also pertinent to notice that IRP against the Corporate Debtor has already been appointed and by the intervention of the Hon'ble Supreme Court, the appointment of the Resolution Professional will revive.
(3.) Accordingly, these matters be listed on 24th January, 2018.;


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