2020 (12) TMI 454

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..... I B Code . Applications under Sections 7, 9 10 are required to be disposed of by admitting or rejecting the same within 14 days of filing. It appears that the Adjudicating Authority has adopted the procedure which runs parallel to the statutory provisions and despite reserving the order, the matter has been practically reopened on the ground of further clarification. The impugned order is couch .....

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..... eptember, 2020 by the Adjudicating Authority (National Company Law Tribunal), Division Bench-II, Chennai, but on 11th November, 2020, when the impugned order came to be passed, the Adjudicating Authority again adjourned the matter directing it to be listed on 17th December, 2020 for further clarification. The impugned order has practical effect of de-reserving/ reopening the matter for further hea .....

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..... thin the prescribed time limit of 14 days. In the given circumstances, we deem it appropriate to dispose of the appeal with direction to the Adjudicating Authority to prepone and list the matter immediately and after according consideration on merit, dispose of the same by passing order of admission or otherwise as warranted under law. This be done within one week from today. Copy of this or .....

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