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TMI Blog2020 (9) TMI 1070X X X X Extracts X X X X X X X X Extracts X X X X ..... yas , Adv ORDER IA No. 50/JPR/2020 Heard the submissions made by the Resolution Professional (RP). The application under Section 14, read with Section 60(5) of IBC, 2016 is related to the action taken by the Presiding Officer under the Payment of Wages Act, 1936. It transpires that the Presiding Officer, under the Payment of Wages Act, 1936, has directed the Corporate Debtor to pay a sum of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regard, the Hon'ble Supreme Court has clearly held in the case of Alchemist Asset Reconstruction Company Ltd. Vs. M/s. Hotel Gaudavan Pvt. Ltd. in (Civil Appeal No. 16929 of 2017) the following: - 3) The facts of the present case disclose a very sorry state of affairs. Several proceedings had been taken and ultimately a petition filed under the Insolvency and Bankruptcy Code, 2016 was admit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l, Principal Bench, New Delhi referred to Section 14(1)(a) of the Insolvency Code and stated that given the moratorium that is imposed, no arbitration proceedings could go on. A notice was issued on 29.06.2017 by the National Company Law Tribunal, Principal Bench, New Delhi in C.A. No. 186(PB) of 2017. 4) A First Appeal was filed before the District Judge, Jaisalmer, Rajasthan under Section 37 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e arbitration that has been instituted after the aforesaid moratorium is non-est in law. 7) Mr. Jayant Bhushan, learned Senior Counsel, also informs us that criminal proceeding being F.I.R. No. 0605 dated 06.08.2017 has been taken in a desperate attempt to see that the IRP does not continue with the proceedings under the Insolvency Code which are strictly time bound. We quash this proceeding. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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