Digitally signed by SANJAY KUMAR Date: 2024.11.07 17:00:12 IST Reason:

Signature Not Verified J. B. PARDIWALA, J.:

For the convenience of exposition, this judgment is divided into the following parts:

A. FACTUAL MATRIX ............................................................................ 2 I.

P ROCEEDINGS UNDER THE IBC .................................................................... 5 II . P ROCEEDINGS BEFORE THE H IGH C OURT .................................................... 10 B. SUBMISSIONS ON BEHALF OF THE APPELLANT ................. 14 C. SUBMISSIONS ON BEHALF OF THE RESPONDENT .............. 17 D. ISSUES FOR DETERMINATION ................................................... 19 E. ANALYSIS .......................................................................................... 20 I.

I SSUE N O . 1 ................................................................................................ 23 a. Scope and applicability of Order 23 Rule 1 of the CPC to proceedings other than suits ................................................................................... 23 II . I SSUE N O . 2 ........................................................................