The Delhi High Court has directed the National Company Law Tribunal (NCLT) to upload its orders in an expeditious manner without delay. Justice Prathiba M Singh passed the direction considering the nature of orders passed by the tribunal, especially those by which moratorium is declared and IRPs are appointed. “A copy of this order be communicated to the Registrar, NCLT for compliance,”...
The Delhi High Court has directed the National Company Law Tribunal (NCLT) to upload its orders in an expeditious manner without delay.
Justice Prathiba M Singh passed the direction considering the nature of orders passed by the tribunal, especially those by which moratorium is declared and IRPs are appointed.
“A copy of this order be communicated to the Registrar, NCLT for compliance,” the court said.
The court was hearing a plea moved by a resolution professional, Subrata Monindranath Maity, challenging the order passed by Insolvency and Bankruptcy Board of India (IBBI) on January 10.
Maity was appointed as resolution professional of entities namely M/s. Bhatia Coke and Energy Limited and M/s Guardian Homes Pvt. Ltd. On January 10, the IBBI suspended his registration as a resolution professional for a period of one year.
It was Maity’s case that he did not indulge in any misconduct qua the companies and thus the suspension was not tenable.
On the other hand, ASG Madhavi Diwan appearing for IBBI submitted that Maity’s conduct was found to be lacking in the case of the two companies for which show cause notices were also issued.
It was also submitted that the Central Bureau of Investigation (CBI) had registered a case against Maity.
Issuing notice in the plea, Justice Singh noted that the NCLT’s order dated March 14, 2022, was uploaded only on April 29, 2022, after six weeks.
“Considering the nature of the orders which are passed by the NCLT especially orders by which moratorium is declared and IRPs are appointed, endeavour shall be made to upload such orders in an expeditious manner and not in a delayed manner as in the present case. A copy of this order be communicated to the Registrar, NCLT for compliance,” the court said.
The matter will now be heard on September 8.
Advocates Vikram Hegde and Jagrit Vyas appeared for the petitioner.
Title: MR SUBRATA MONINDRANATH MAITY v. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
Citation: 2023 LiveLaw (Del) 194