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HIGH COURT OF GUJARAT
ANIRUDDHA P. MAYEE, J
AQUARIUS H20 DYNAMICS PRIVATE LIMITED – Appellant
Versus
M/S RIDDHI SIDDHI METALS – Respondent
ORDER :
(ANIRUDDHA P. MAYEE, J.)
1. Heard the learned counsel for the petitioner.
2. The present petition has been filed challenging the order dated 11.3.2025 passed by the National Company Law Tribunal, Ahmedabad whereby the the learned Tribunal has observed that since there is no stay to the order of admission of the CIRP process by the National Company Law Appellate Tribunal, the suspended management is directed to cooperate and handover the entire information, assets, documents as well as the control of the corporate debtor within a period of three days.
3. The leaned counsel for the petitioner submits that the impugned order has been passed on 11.3.2025 and the copy of the same has been made available on 12.3.2025. The learned counsel submits that the present writ petition has been preferred since the learned National Company Law Appellate Tribunal is not available till 16.3.2025. The learned counsel submits that since the direction of the Tribunal directing the petitioner to handover the entire information, assets, documents as well as control of the corporate debtor within a period of three days ends on 14.3.2025, which is the public holiday, and that thereafter, being Saturday
The court affirmed that compliance with a Tribunal's order is required in the absence of a stay, emphasizing the need for interim relief to be clearly established before seeking protection during an ....
Court emphasizes the necessity of maintaining status quo in corporate disputes to prevent oppression until the Tribunal resolves the matters.
A writ petition was closed due to the petitioners pursuing alternate legal remedies before the National Company Law Tribunal.
A Civil Court cannot entertain suits regarding matters under the jurisdiction of the National Company Law Tribunal as per IBC sections 63 and 231.
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