# In the matter of CFM Asset Reconstruction Pvt. Ltd. & Ors. vs. IDBI Bank Ltd. & Anr.

> NCLAT judgment dated 2024-11-21. Citation: TCN-2024-NCLAT-00725. The document pertains to two Company Appeals (AT) (Insolvency) No. 2162 of 2024 and No. 2139…

- **Court:** NCLAT
- **Order date:** 21 Nov 2024
- **Citation:** TCN-2024-NCLAT-00725
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/cfm-asset-reconstruction-pvt-ltd-ors-vs-idbi-bank-ltd-anr-588c3af3

## Summary

### Background

The document pertains to two Company Appeals (AT) (Insolvency) No. 2162 of 2024 and No. 2139 of 2024 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi.

## Facts

Company Appeal (AT) (Insolvency) No. 2162 of 2024 was filed by CFM Asset Reconstruction Pvt. Ltd. against IDBI Bank Ltd. & Anr.

Company Appeal (AT) (Insolvency) No. 2139 of 2024 was filed by Mukesh Verma (RP of JBF Industries Ltd.) against IDBI Bank Ltd.

The NCLAT Principal Bench, New Delhi, is hearing the appeals.

The court directed the respondents to file a reply within two weeks.

The court directed the appellants to file a rejoinder within 10 days after the respondent's reply.

The case is listed for further hearing on 17.01.2025.

No plan shall be put for voting until the next date.

## Issues and analysis

### Issue 1: Whether the respondents should be directed to …

**Ratio:** The court has the power to direct parties to file pleadings within a specific timeframe

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**Reasoning:** Issuing a notice and directing the respondents to file a reply is a standard procedure to

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**Interpretation:** The direction to file a reply within two weeks is a procedural order aimed at

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**Application:** The respondents are required to file their reply within two weeks from the date

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** CFM Asset…; Mukesh…
- **Respondents:** JBF Industries…; IDBI Bank…; +1 more
- **Advocates:** Krishnendu…; Anuj Ti…; +13 more

## Timeline

- **2024-11-21 — Order Da…**: Issue notice. Let reply be filed by the Respondents within two weeks. Rejoinder be filed…
- **2025-01-17 — Next Hearin…**: List this appeal on…

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