2016 (5) TMI 1607 - HC - Insolvency and Bankruptcy

Seeking consideration of the miscellaneous application before BIFR - HELD THAT - Writ petition was filed inasmuch as BIFR was not functioning and impugned order dated January 07, 2016 passed by AAIFR was that since no appeal was pending before it, the question of entertaining any miscellaneous application would not arise - When the writ petition was filed, on account of superannuation of the members constituted BIFR, the Board was not functioning. As of today, the Board is functioning because two members have been nominated. In that view of the matter relief as prayed in the writ petition cannot be granted but a direction is issued that within three months from today BIFR should decide MA No.358/BC/2014.

Summary

The Delhi High Court directed the BIFR to decide on a miscellaneous application within three months. The writ petition was filed due to BIFR not functioning, but now it is operational with two nominated members. The AAIFR refused to entertain the application as no appeal was pending before it.