# In the matter of Sunrise Mining Company Pvt. Ltd. Vs. Twenty First Century Wire Rods Limited Co. Pet. No. 1135-2016

> HC judgment dated 2018-03-19. Citation: TCN-2018-HC-00018. The case involves a petition CO.PET. 1135/2016 in the High Court of Delhi at New Delhi. The Supreme…

- **Court:** HC
- **Order date:** 19 Mar 2018
- **Citation:** TCN-2018-HC-00018
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-chandigarh-bench/sunrise-mining-company-pvt-ltd-vs-twenty-first-century-wire-rods-limited-co-pet-d2e2bd76

## Summary

### Background

The case involves a petition CO.PET. 1135/2016 in the High Court of Delhi at New Delhi. The Supreme Court, with the consent of the parties, set aside an order dated 08-01-2018 passed by the NCLT, which had appointed an Interim Resolution Professional (IRP).

## Facts

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.

## Issues and analysis

### Issue 1: Whether the order dated 08-01-2018 passed by the NCLT appointing an Interim Resolution Professional …

**Ratio:** An order can be set aside by a higher court

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**Reasoning:** The Supreme Court, with the consent of the parties, set aside the order dated 08-01-2018

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**Interpretation:** This indicates that the consent of all parties is a significant factor in

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**Application:** In this case, the Supreme Court applied the principle that an order can be set

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## Parties

- **Judges:** JAYANT…
- **Appellants:** SUNRISE MINING…
- **Respondents:** Twenty First…

## Timeline

- **2018-01-08 — NCLT Ord…**: NCLT passed an order appointing an…
- **2018-01-29 — Civil Appea…**: Civil Appeal 865/2018…

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