M/S Rathi Steel And Power Limited v. Union Of India And ANR.

$~4 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 632/2019 & CM APPLs. 2889-2890/2019 M/S RATHI STEEL AND POWER LIMITED ..... Petitioner Through:

Mr. Tanmay Mehta with Mr. Anand Shankar Jha & Mr. Arpit Gupta, Advs.

versus UNION OF INDIA AND ANR.

..... Respondents Through:

Mr. Anurag Ahluwalia, CGSC with Ms. Tejaswita & Mr. Sanjay Bose, Advs. for R-1/UOI.

Mr. Kunal Vajani, Standing Counsel for Bank of Baroda with Mr. Varun Ahuja & Mr. Jayant Rastogi, Advs.

for R-2.

CORAM:

HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE V. KAMESWAR RAO

O R D E R

% 30.01.2019 CM APPL. 2890/2019 (exemption) Allowed, subject to just exceptions.

W.P.(C) 632/2019 & CM APPL. 2889/2019 (stay) In view of the judgment recently rendered by the Hon‟ble Supreme Court in the case of Swiss Ribbons Pvt. Ltd. & Anr. vs. UOI & Ors. being W.P.(C) No.99/2018 and other cases decided on 25.01.2019, present W.P.(C) 632/2019

challenge to the constitutional validity of Sections 7, 21, 24 and 31 of the Insolvency and Bankruptcy Code, 2016 and Rule 4 of the Insolvency and Bankruptcy Rules, 2016 stands rendered infructuous as the Supreme Court has upheld the validity of the provisions of the said Act. However, Shri Tanmay Mehta, learned counsel representing the petitioner submits that he would now want to challenge the action initiated against the petitioner on merits.

That being so, we permit learned counsel for the petitioner to withdraw this writ petition and grant him liberty to file a writ petition challenging the action initiated against the petitioner under the statutory provision on merits in accordance with law.

CHIEF JUSTICE V. KAMESWAR RAO, J JANUARY 30, 2019 kks W.P.(C) 632/2019