2019 (12) TMI 1605 - AT - Insolvency and Bankruptcy

Vacation of ex-parte interim relief granted - arising of hardship as the company's project i.e. construction of hospital is going on - HELD THAT - Looking to the undertaking given by the Respondent the appeal is disposed off. This order will continue till the disposal of the main Company Petition which is pending before NCLT. No order as to cost. Respondent is directed to file reply to the Company Petition No.98/CB/2019 which is pending before NCLT, Cuttack Bench, Cuttack before 19th December, 2019.

Summary

The National Company Law Appellate Tribunal in New Delhi disposed of the appeal, directing the Respondent not to transfer or sell any property and to allow the Appellant to subscribe to shares. The order will remain until the main Company Petition is resolved. The Respondent must reply to the Company Petition pending before NCLT by December 19, 2019.