Automation Engineers A.B. Pvt. Ltd. v. Monnet Ispat & Energy Ltd.

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ ARB.P. 580/2017 AUTOMATION ENGINEERS A.B. PVT. LTD. ..... Petitioner Through Mr.Vijay Kinger & Mr.Sanjay Verma, Advocates versus MONNET ISPAT & ENERGY LTD.

..... Respondent Through Ms.Mathew, Advocate

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 16.10.2017 The learned counsel appearing for the respondent submits that in the present case the National Company Law Tribunal (in short 'the NCLT') vide its order dated 18.07.2017 has admitted a petition under Section 7 of the Code filed by State Bank of India (in short 'the SBI') against the respondent. She also relies upon the order of the Division Bench in ITA No.533/2017 and other connected matters, titled as PR.Commissioner of Income Tax-6, New Delhi v. Monnet Ispat & Energy Ltd., where the Division Bench has held that moratorium will continue till the completion of the corporate insolvency resolution process or until the Bench approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 of the Act. She further submits that the petitioner is free to approach the Resolution Professional for its claim. In view of the above, the petition is disposed of with liberty to the petitioner to revive the same subject to further orders of the NCLT. JAYANT NATH, J.

OCTOBER 16, 2017/v