IN THE COURT OF SH.
SUMIT TURKIYA, JMFC, GURUGRAM
CC No. 49772/2019
IN THE MATTER OF:
SAILESH AGARWAL …COMPLAINANT
VERSUS
M/S. ANDES TOWN PLANNERS
PVT. LTD. & ORS …ACCUSED
APPLICATION ON BEHALF OF THE COMPLAINANT FOR
SEEKING ADJOURNMENT SINE-DIE IN THE CAPTIONED
MATTER.
1. That the captioned matter is pending adjudication before this Hon’ble
Court and the same is listed for 16.12.2025.
2. That, it is brought to the notice of the Ld. Counsel for the complainant,
that an application under sec 7 of the IBC, 2016 r/w Rule 4 of the
Insolvency and Bankruptcy Rule, 2016 was filled against the accused by
Piramal Capital & Housing Finance Limited before The Hon’ble
National Company Law Tribunal, New Delhi Bench.
3. That as per the order dated 02.03.2023 in the said matter., i.e., Piramal
Capital & Housing Finance Limited vs M/s. Andes Town Planners
Private Limited, a CIRP was initiated against the accused, i.e. M/s.
Andes Town Planners Private Limited under sec 7 of the IBC, 2016.
The Copy of the order dated 02.03.2023 passed by the NCLT Bench,
Court III has been annexed herewith the application as ANNEXURE A-
1.
4. That as per sec 14 of the IBC, 2016, a moratorium was declared having
effect from the date of the order till the completion of the CIRP. Section
14 of the IBC, 2016 is being reproduced hereinbelow:
14. Moratorium.
(1) Subject to provisions of sub-sections (2) and (3), on the
insolvency commencement date, the Adjudicating Authority shall
by order declare moratorium for prohibiting all of the following,
namely:--
(a) the institution of suits or continuation of pending suits or
proceedings against the corporate debtor including execution of
any judgment, decree or order in any court of law, tribunal,
arbitration panel or other authority;
(b) transferring, encumbering, alienating or disposing of by the
corporate debtor any of its assets or any legal right or beneficial
interest therein;
(c) any action to foreclose, recover or enforce any security interest
created by the corporate debtor in respect of its property including
any action under the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act, 2002
(54 of 2002);
(d) the recovery of any property by an owner or lessor where such
property is occupied by or in the possession of the corporate
debtor.
(2) The supply of essential goods or services to the corporate
debtor as may be specified shall not be terminated or suspended
or interrupted during moratorium period.
(2A) Where the interim resolution professional or resolution
professional, as the case may be, considers the supply of goods or
services critical to protect and preserve the value of the corporate
debtor and manage the operations of such corporate debtor as a
going concern, then the supply of such goods or services shall not
be terminated, suspended or interrupted during the period of
moratorium, except where such corporate debtor has not paid
dues arising from such supply during the moratorium period or in
such circumstances as may be specified
(3) The provisions of sub-section (1) shall not apply to—
(a) such transactions, agreements or other arrangements as may be
notified by the Central Government in consultation with any
financial sector regulator or any other authority
(b) a surety in a contract of guarantee to a corporate debtor.
(4) The order of moratorium shall have effect from the date of
such order till the completion of the corporate insolvency
resolution process.
Provided that where at any time during the corporate insolvency
resolution process period, if the Adjudicating Authority approves
the resolution plan under sub-section (1) of section 31 or passes
an order for liquidation of corporate debtor under section 33, the
moratorium shall cease to have effect from the date of such
approval or liquidation order, as the case may be.
5. That as per sec 14(1)(a), no further proceeding such as institution of
suits or continuation of pending suits or proceedings against the
corporate debtor including execution of any judgment, decree or order in
any court of law, tribunal, arbitration panel or other authority can
resume till the CIRP proceeding are not completed.
6. Therefore, the Counsel for the Complainant is seeking a sine-die
adjournment in the present matter till the completion of CIRP
procedings against the accused company.
7. That the complainant undertakes to file the relevant application under
relevant provisions for the revival of the case after the proceedings U/s.
7 of IBC are completed.
PRAYER
IT IS THEREFORE PRAYED BEFORE THIS HON’BLE COURT:
a. To allow the present application and adjourn the matter sine-die.
b. To pass any such further order(s) as this Hon’ble Court deems fit.
PLACE: PLAINTIFF
DATED:
THROUGH
ARV CHAMBERS OF LAW
C-54, FIRST FLOOR, NEETI BAGH
DELHI-110049
9971680687
EMAIL:
[email protected]
