JUDGMENT :

I.A. No. 13840/2018 (seeking leave to defend) & I.A. No.13841/2018 (for delay)

1. Plaintiff – IFCI Factors Limited has filed the present suit under Order XXXVII CPC against the Defendants - assignor/principal borrower, Ramsarup Industries Limited, and guarantor, Mr. Ashish Jhunjhunwala – Defendant No. 2. The suit was registered and summons were issued. Defendant No.1 – Ramsarup Industries Limited filed I.A. No.7212/2018 under Section 151 CPC read with Section 14 of the Insolvency and Bankruptcy Code, 2016 (hereinafter ‘IBC’) for stay of the present suit proceedings. On 7th September, 2018, it was ordered as under:

“…

2. Since the claim is pending and the moratorium period under Section 14 of the Insolvency and Bankruptcy Code, 2016 has commenced, insofar as the Defendant No.1 is concerned, the suit will remain stayed. However, insofar as Defendant No. 2 is concerned, the suit shall proceed. Upon the end of the moratorium period, liberty is given to the Plaintiff to revive the suit qua Defendant No.1, depending upon the outcome of the proceedings in the NCLT.

3. I.A. is di