ORDER

Per: - Justice Virendrasingh G Bisht, Member (Judicial)

1. The present proceeding arises pursuant to the reference u/s 419(5) of the Companies Act, 2013 read with Rule 60(2) and (3) of NCLT Rules, 2016 so as to render an opinion on the points of difference recorded by the learned Members constituting the Bench-IV that heard the Application u/s 65 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) read with Rule11 of National Company Law Tribunal Rules, 2016.

Facts leading to the reference:-

2. The Members are divided on the following legal pointes;

a. Whether in the facts and circumstances of the case, sufficient pleadings have been placed on record to allow the Interlocutory Application bearing I.A. No. 3322 of 2024, filed under Section 65 of the IBC, 2016?

b. Whether in the facts and circumstances of the case, the captioned petition filed under Section 7 of IBC, 2016, is liable to be Admitted?

c. Whether the facts and extant circumstances of the case read in conjunction with the materials placed on record, warrant for disclosures sought for by the Applicant, in I.A. No. 3322 of 2024?

Judgements of the Bench-III:-

3. Mr. Kishore Vemulapalli, Member (Judicial), after appre