Sunrise Mining Company Pvt Ltd filed a petition against Twenty First Century Wire Rods Limited. The Supreme Court, with the consent of parties, set aside the order dated 08-01-2018 passed by NCLT appointing an Interim Resolution Professional (IRP) in Civil Appeal 865/2018 dated 29-01-2018. The case is listed for arguments on 06-08-2018. IDBI Bank is instructed to take instructions in terms of the order dated 27-11-2017. An interim order is to continue till then. The relevance of the Supreme Court setting aside the NCLT order is that it changes the course of the insolvency proceedings, at least temporarily.

Sunrise Mining Company Pvt Ltd filed a petition against Twenty First Century Wire Rods Limited. The Supreme Court, with the consent of parties, set aside the order dated 08-01-2018 passed by NCLT appointing an Interim Resolution Professional (IRP) in Civil Appeal 865/2018 dated 29-01-2018. The case is listed for arguments on 06-08-2018. IDBI Bank is instructed to take instructions in terms of the order dated 27-11-2017. An interim order is to continue till then. The relevance of the Supreme Court setting aside the NCLT order is that it changes the course of the insolvency proceedings, at least temporarily.