M.S. RAMACHANDRA RAO, J.

1. This company petition had been filed on 24.9.2014 by M/s. Paharpur Cooling Towers Limited (for short 'the petitioner') under Section 433(e) & (f) of the Companies Act, 1956 to wind up M/s. Basal Steels and Power Pvt. Ltd., ('the respondent'). On 26.8.2014, this company petition had been adjourned sine die, taking note of the fact that at that time, Appeal No. 117 of 2014 filed by the respondent against an order dated 23.12.2013 in BIFR Case No. 64 of 2012 was pending before AAIFR constituted under Sick Industrial Companies (Special Provisions) Act, 1985 (for short 'SICA').

2. However, on 6.7.2017 this Court passed an order in this company petition recalling the order dated 26.8.2014 and directing that there is no impediment to proceeding with it in as much as the SICA was repealed and the Forums created there under were dissolved by the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (Act 1 of 2004) which was brought into force by the Insolvency and Bankruptcy Code, 2016 (for short 'the IBC). This Court also held that once the very Forums created under the SICA did not exist, the stay of operation as was available under Section 22 of