- (1.) Ld. Counsel for the applicant is present.
(2.) The applicant has filed this Miscellaneous Application mainly under Rule 11 of the National Company Law Tribunal Rules, 2016(NCLT Rules, 2016) read with Sick Industrial Companies (Special Provisions) Repeal Act. 2003 and Insolvency and Bankruptcy Code, 2016.
(3.) As per Gazette Notification , SICA has been repealed and BIFR and AAIFR stand dissolved with effect from 01/12/2016 and the Insolvency and Bankruptcy Code, 2016 has come into effect. As per Government Notification all proceedings pending before the BIFR shall stand abated with a liberty to file fresh petition within 180 days before the Adjudicating Authority.;