In the matter of J R Agro Industries (P) Ltd. Vs Swadisht Oils Pvt. Ltd. CA (AT) Nos. 17 to 27-2017

NATIONAL COMPANY LAW APPELLATE TRIBUNAL-(Cases)

These appeals under section 61 of Insolvency & Bankruptcy Code, 2016 ("I & B Code" for short) have been preferred by Appellant/ Operational Creditors M/s. J.R Agro Industries Pvt. Ltd., against order(s) dated 3rd March, 2017 etc, whereby the application preferred by Appellants were adjourned for another date.

2. The grievance of the appellants was that the Adjudicating Authority has not passed the order within 14 days as prescribed under section 9 of the I & B Code, which may render their applications infructuous.

3. On 10th April, 2014, when the matter was taken up, this Appellate Tribunal issued notice on the Respondents.

4. Today when the matter was taken up, Ld. Counsel for the Appellant(s) brought to our notice three order(s) all dated 9th May, 2017, passed by Adjudicating Authority in corresponding applications under section 9, whereby the Adjudicating Authority has pointed out the defects to be removed by each of the Appellants within 7 days. Ld. Counsel for the Appellant submits that the defects will be removed in course of day.

5. The question as to whether 14 days' period prescribed under sub- section (5) of section 9 of the 'I & B Code' is mandatory or directory fell for consideration before the Appellate Tribunal in "Company Appeal (AT) (Insolvency) No. 9 of 2017, M/s. J.K. Jute Mills Company Limited Vs. M/s. Surendra Trading Company". In the said appeal, the Appellate Tribunal held that the 14 days period prescribed under sub-section (5) of Section 9 being a procedural law is directory.

6. In view of decision in "M/s J.K.Jute Mills Company Limited" now no further finding is required to be given in regard to same issue in these appeals. The appellants are allowed to complete the records within time granted by the Adjudicating Authority, if not completed. All the appeals stand disposed of with the aforesaid observations. No cost.

(Justice S.J. Mukhopadhaya)

Chairperson

(Mr. Balvinder Singh)

Member(Technical)

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In the matter of J R Agro Industries (P) Ltd. Vs Swadisht Oils Pvt. Ltd. CA (AT) Nos. 17 to 27-2017

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These appeals under section 61 of Insolvency &amp; Bankruptcy Code, 2016 ("I &amp; B Code" for short) have been preferred by Appellant/ Operational Creditors M/s. J.R Agro Industries Pvt. Ltd., against order(s) dated 3rd March, 2017 etc, whereby the application preferred by Appellants were adjourned for another date. 
2. The grievance of the appellants was that the Adjudicating Authority
has not passed the order within 14 days as prescribed under section 9 of
the I &amp; B Code, which may render their applications infructuous. 
3. On 10th April, 2014, when the matter was taken up, this Appellate
Tribunal issued notice on the Respondents. 
4. Today when the matter was taken up, Ld. Counsel for the
Appellant(s) brought to our notice three order(s) all dated 9th May, 2017,
passed by Adjudicating Authority in corresponding applications under
section 9, whereby the Adjudicating Authority has pointed out the defects
to be removed by each of the Appellants within 7 days. Ld. Counsel for
the Appellant submits that the defects will be removed in course of day. 
5. The question as to whether 14 days' period prescribed under sub-
section (5) of section 9 of the 'I &amp; B Code' is mandatory or directory fell
for consideration before the Appellate Tribunal in "Company Appeal (AT)
(Insolvency) No. 9 of 2017, M/s. J.K. Jute Mills Company Limited Vs.
M/s. Surendra Trading Company". In the said appeal, the Appellate
Tribunal held that the 14 days period prescribed under sub-section (5) of
Section 9 being a procedural law is directory. 
6. In view of decision in "M/s J.K.Jute Mills Company Limited" now
no further finding is required to be given in regard to same issue in these
appeals. The appellants are allowed to complete the records within time
granted by the Adjudicating Authority, if not completed. All the appeals
stand disposed of with the aforesaid observations. No cost.

(Justice S.J. Mukhopadhaya) 
Chairperson

(Mr. Balvinder Singh) 
Member(Technical)

These appeals under section 61 of Insolvency & Bankruptcy Code, 2016 ("I & B Code" for short) have been preferred by Appellant/ Operational Creditors M/s. J.R Agro Industries Pvt. Ltd., against order(s) dated 3rd March, 2017 etc, whereby the application preferred by Appellants were adjourned for another date. 
2. The grievance of the appellants was that the Adjudicating Authority
has not passed the order within 14 days as prescribed under section 9 of
the I & B Code, which may render their applications infructuous. 
3. On 10th April, 2014, when the matter was taken up, this Appellate
Tribunal issued notice on the Respondents. 
4. Today when the matter was taken up, Ld. Counsel for the
Appellant(s) brought to our notice three order(s) all dated 9th May, 2017,
passed by Adjudicating Authority in corresponding applications under
section 9, whereby the Adjudicating Authority has pointed out the defects
to be removed by each of the Appellants within 7 days. Ld. Counsel for
the Appellant submits that the defects will be removed in course of day. 
5. The question as to whether 14 days' period prescribed under sub-
section (5) of section 9 of the 'I & B Code' is mandatory or directory fell
for consideration before the Appellate Tribunal in "Company Appeal (AT)
(Insolvency) No. 9 of 2017, M/s. J.K. Jute Mills Company Limited Vs.
M/s. Surendra Trading Company". In the said appeal, the Appellate
Tribunal held that the 14 days period prescribed under sub-section (5) of
Section 9 being a procedural law is directory. 
6. In view of decision in "M/s J.K.Jute Mills Company Limited" now
no further finding is required to be given in regard to same issue in these
appeals. The appellants are allowed to complete the records within time
granted by the Adjudicating Authority, if not completed. All the appeals
stand disposed of with the aforesaid observations. No cost.

(Justice S.J. Mukhopadhaya) 
Chairperson

(Mr. Balvinder Singh) 
Member(Technical)

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In the matter of J R Agro Industries (P) Ltd. Vs Swadisht Oils Pvt. Ltd. CA (AT) Nos. 17 to 27-2017