# In the matter of Boon Investment and Trading Co. Pvt. Ltd.& Ors. Vs. Excel Glasses Ltd. & Ors. OP(C) No. 484-2020 (STAY ORDER)

> HC judgment dated 2020-02-20. Citation: TCN-2020-HC-00036. The Original Petition (Civil) was filed in the High Court of Kerala, praying for a stay order…

- **Court:** HC
- **Order date:** 20 Feb 2020
- **Citation:** TCN-2020-HC-00036
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-chandigarh-bench/boon-investment-and-trading-co-pvt-ltd-ors-vs-excel-glasses-ltd-ors-op-481ef16b

## Summary

### Background

The Original Petition (Civil) was filed in the High Court of Kerala, praying for a stay order against the Exhibit P7 liquidation process of M/S Excell Glass Company until the disposal of the petition. The petition was admitted after perusing the petition and affidavit, and hearing arguments from the advocates for the petitioners and the learned Government Pleader for respondents R5 to R7.

## Facts

The case involves an Original Petition (Civil) filed in the High Court of Kerala. The petitioners, a group of individuals including P. X Xavier and others, sought a stay order against the Exhibit P7 liquidation process of M/S Excell Glass Company. The court admitted the petition after reviewing the documents and hearing arguments from the advocates for the petitioners and the Government Pleader for respondents R5 to R7. The court then issued notice to the other respondents and granted an interim stay of further proceedings related to the liquidation process, pursuant to Ext.P7. Exhibit P7 is identified as the true copy of the liquidation order in M.A.NO.7/KOB/2019 in IBA 258/CHENNAI BENCH DATED 21.10.2019 issued by the Second Respondent, NCLT, Kochi Bench.

## Issues and analysis

### Issue 1: Whether the High Court should grant a stay order against the Exhibit P7 liquidation process of M/S …

**Ratio:** The court has the power to grant a stay order to prevent irreparable harm or injustice

…

**Reasoning:** The court considered the circumstances stated in the affidavit and the arguments

…

**Interpretation:** The court interpreted the request for a stay order as a measure to maintain the

…

**Application:** The court applied its power to grant a stay order by issuing an interim stay

…

## Parties

- **Judges:** B. SUDHEENDRA…
- **Appellants:** P. X Xa…
- **Respondents:** Excel Glass…; Ravindra Chaturved…

## Timeline

- **2020-02-20 — Order Da…**: The court passed an order issuing notice to the respondents and granting an interim stay…
- **2019-10-21 — Liquidation Order Date…**: Liquidation order in M.A.NO.7/KOB/2019 in IBA 258/CHENNAI BENCH issued by NCLT, Kochi…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/high-courts-chandigarh-bench/boon-investment-and-trading-co-pvt-ltd-ors-vs-excel-glasses-ltd-ors-op-481ef16b