# In the matter of Anju Agarwal, R.P. for Shree Bhawani Paper Mills Ltd. Vs. Bombay Stock Exchange & Ors. CA (AT) (Insolvency) No. 734-2018

> NCLAT judgment dated 2018-11-28. Citation: TCN-2018-NCLAT-00049. The case pertains to Company Appeal (AT) (Insolvency) No. 734 of 2018 before the National…

- **Court:** NCLAT
- **Order date:** 28 Nov 2018
- **Citation:** TCN-2018-NCLAT-00049
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/anju-agarwal-rp-for-shree-bhawani-paper-mills-ltd-vs-bombay-stock-exchange-ors-c-986426b5

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 734 of 2018 before the National Company Law Appellate Tribunal (NCLAT). The appeal involves Shree Bhawani Paper Mills Ltd. and Bombay Stock Exchange & Ors. The appellant is challenging an order, and the court is considering whether to issue an appropriate order regarding the insolvency resolution process.

## Facts

Anju Agarwal, R.P. for Shree Bhawani Paper Mills Ltd., filed an appeal against Bombay Stock Exchange & Ors. The appeal was delayed in re-filing, which the court condoned. The court issued notices to the respondents to determine why an appropriate order should not be issued to ensure a proper insolvency resolution process for Shree Bhawani Paper Mills Ltd. The court also directed that no coercive orders be passed against Shree Bhawani Paper Mills Ltd. (Corporate Debtor) by SEBI or the Bombay Stock Exchange, which could affect the corporate insolvency resolution processes. The Resolution Professional is required to ensure compliance with SEBI procedures during the moratorium period.

## Issues and analysis

### Issue 1: Whether the delay in re-filing …

**Ratio:** The court has the discretion to condone delays in filing appeals based on sufficient

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**Reasoning:** The court considered the reasons for the delay and found it appropriate to condone the

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**Interpretation:** This reflects the court's approach to ensure cases are decided on their merits

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**Application:** The court applied its discretion to condone the delay, allowing the appeal to

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Anju Agarwal,…
- **Respondents:** SHREE BHAWANI…; Bombay Stock…

## Timeline

- **2018-11-28 — Delay Con…**: The delay in re-filing…
- **2018-11-29 — Requisite Filing…**: Requisite along with process fee to…

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