JUDGMENT

R.F. Nariman, J.

W.P.(C) No.645 OF 2019

1. The issues involved in Writ Petition (Civil) No.645 of 2019 are entirely different from the Writ Petition (Civil) No.455 of 2019 and its other connected matters. This writ petition is accordingly de-tagged from Writ Petition (Civil) No.455 of 2019. The Registry is directed to list this writ petition separately.

W.P.(C) No.455 of 2019 & Civil Appeal (Diary No.16521 of 2019)

2. Delay is condoned. Civil Appeal (Diary No. 16521 of 2019) is admitted.

3. Writ Petition (Civil) No.455 of 2019 and Civil Appeal (Diary No. 16521 of 2019) have been filed by Shri Jignesh Shah and Smt. Pushpa Shah respectively, both of whom are shareholders of La-Fin Financial Services Pvt. Ltd. (hereinafter “La-Fin”) assailing the order of the National Company Law Tribunal, Mumbai Bench (hereinafter referred to as the “NCLT”) admitting a winding up petition that was filed by IL&FS Financial Services Ltd. (hereinafter referred to as “IL&FS”) against La-Fin before the High Court of Judicature at Bombay (hereinafter referred to as the “Bombay High Court”), which was transferred to the NCLT and then heard as a Section 7 application under the Insolvency and Bankruptcy Co