Case Note & Summary
This is an order of the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, dated 28.03.2025, in I.A. No. 1083 of 2025 in Company Appeal (AT) (Insolvency) No. 148 of 2025 and Company Appeal (AT) (Insolvency) No. 179 of 2025. The appeals involve Gateway Investment Management Services Ltd. as appellant in the first matter and Alchemist Asset Reconstruction Company Ltd. as appellant in the second matter, with ASC Insolvency Services LLP and others as respondents. The NCLAT heard submissions from senior counsel for the parties. In I.A. No. 1083 of 2025, Mr. Abhijeet Sinha, learned senior counsel for the applicant, sought liberty to file a two-page note in support of the application, and the Tribunal reserved orders on that application. In Company Appeal (AT) (Insolvency) No. 179 of 2025, Mr. Krishnendu Datta, learned senior counsel, completed his rejoinder submissions, and the Tribunal reserved judgment. The Tribunal directed that all parties may file short notes of submissions not exceeding four pages, along with judgments relied upon, within one week. The interim order was directed to continue until the delivery of the judgment. The bench comprised Justice Ashok Bhushan (Chairperson), Barun Mitra (Member Technical), and Arun Baroka (Member Technical).
Headnote
A) Insolvency Law - Interim Orders - Continuation of Interim Order - Pending Judgment - The NCLAT heard submissions and reserved judgment in two company appeals under the Insolvency and Bankruptcy Code, 2016, directing that the interim order shall continue until delivery of judgment. (Paras 1-3)
Issue of Consideration
I.A. No. 1083 of 2025
Final Decision
Orders reserved on I.A. No. 1083 of 2025; Judgment reserved in Company Appeal (AT) (Insolvency) No. 179 of 2025; parties at liberty to file short notes of submissions not more than four pages within a week; interim order to continue till delivery of judgment.
Law Points
- Interim order continues until delivery of judgment
- liberty to file short notes of submissions
