Winsome Yars Ltd vs Edelweiss Asset Reconstruction ...

Winsome Yars Ltd. ...Appellant Versus Edelweiss Asset Reconstruction Company Ltd. ...Respondent

Present For Appellant: Appeared but attendance not marked. For Respondent: Mr. Amit Chadha, Senior Advocate with Mr. Narendra Singh and Ms. Shrishti, Advocates.

ORDER

29.01.2020 Heard learned Counsel for the Appellant.

Learned Counsel for the Respondent pointed out that the instant

Appeal has been preferred only to delay the disposal of the matter pending

consideration before the Adjudicating Authority. It is further pointed out

that the application under Section 7 of the Insolvency and Bankruptcy Code,

2016 (for short the 'I&B Code) filed by Respondent - 'Financial Creditor' on

15th May, 2018 is still pending at the stage of 'admission' and this Appeal

has been filed only to defeat the pre-emptive direction passed by the

Adjudicating Authority to expedite disposal of application at the stage of

admission.

2. After going through the records, we find that the Appellant - 'Corporate

Debtor' has no legally sustainable grievance against the impugned order,

which is pre-emptive in nature and protects the interest of the Appellant by

Page 1 of 2 allowing it to press all objections that it has raised in CA 1068 of 2019. We

are convinced that the instant Appeal has been preferred as a dilatory tactics

to further delay the adjudication of the application under Section 7 of the

I&B Code, the disposal at the admission stage having been already delayed.

3. This Appeal is a frivolous one and we find no hesitation in dismissing

the same. The Appeal is accordingly dismissed. However, we do not propose

to impose any costs.

[Justice Bansi Lal Bhat] Member (Judicial)

[Vijai Pratap Singh] Member (Technical)

[Shreesha Merla] Member (Technical)

Ash/NN Company Appeal (AT) (Insolvency) No. 182 of 2020 Page 2 of 2