The Insolvency And Bankruptcy Code, 2020

1. Issue notice.

2. Mr Shyam Divan, Senior Counsel appearing on caveat, with Mr Akhil Anand, Advocate-on-Record, accepts notice.

3. Counter affidavit, if any, be filed within a period of four weeks from today.

4. List the appeal on 27 January 2021.

5. While at this stage, we are not staying the operation of the order of the National Company Law Appellate Tribunal, which has reversed the order of the National Company Law Tribunal, admitting the petition under Section 7 of the Insolvency and Bankruptcy Code 2016, there shall be an ad-interim direction to the effect that the finding that the appellant is a speculative investor is confined to the facts of the present case and shall not be treated as a precedent in any other case for the present. Moreover, the correctness of the decision of the NCLAT is in challenge in the present appeal.

(SANJAY KUMAR-I) (SAROJ KUMARI GAUR)

AR-CUM-PS COURT MASTER