2020 (7) TMI 799 - HC - Insolvency and Bankruptcy

Adjournment of hearing of the present appeal - HELD THAT - At joint request of learned counsel appearing on behalf of the parties, the hearing of the present appeal and the applications is adjourned. List on 22.09.2020.

Summary

Issues involved:
Adjournment of hearing due to COVID-19 pandemic, Restriction on mortgaging assets without court permission.

Adjournment of Hearing:
The High Court of Delhi, comprising Mr. Justice Siddharth Mridul and Mr. Justice Talwant Singh, JJ., addressed a case via video conferencing due to the COVID-19 pandemic. The learned counsels for both the appellant and the respondent parties jointly requested an adjournment of the hearing, which was granted. The matter was scheduled to be listed on 22.09.2020.

Restriction on Mortgaging Assets:
During the proceedings, the counsels representing respondents 1 and 3 to 10, as well as respondent 2, assured the court that they would not mortgage, charge, or create a lien on their movable or immovable assets until the next hearing date without obtaining prior permission from the Court. The Court directed the respondents accordingly and ordered the immediate uploading of this directive on the Court's website to ensure compliance.

This judgment highlights the Court's adaptability to conduct proceedings via video conferencing during the pandemic, ensuring continuity in legal processes. Additionally, the Court imposed restrictions on the respondents from dealing with their assets without prior court approval, emphasizing the importance of judicial oversight in such matters.