2021 (1) TMI 1243 - AT - Companies Law

Application for early hearing of the case - matter stood adjourned and on the adjourned date too, the matter was not heard, and was again adjourned - the Appellant who being a Financial Creditor, is concerned about further depletion in the value of the assets affecting its claim - HELD THAT - This appeal is disposed off by requesting the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh to expedite the process and dispose off the same within three months.

Summary

The National Company Law Appellate Tribunal disposed off the appeal by requesting the Adjudicating Authority to expedite the process and dispose off the case within three months. The appeal was regarding the Corporate Insolvency Resolution Process under Section 7 of the Insolvency and Bankruptcy Code, 2016, which had resulted in an order of liquidation a year prior. The concern was about further depletion in the value of assets affecting the claim of the Financial Creditor.