# In the matter Mr. Abhijit Guhathakurta Vs. Royale Partners Investment Fund Ltd. CA (AT) (Ins) No. 287 of 2020 and other appeals

> NCLAT judgment dated 2020-06-25. Citation: TCN-2020-NCLAT-00203. This case involves two Company Appeals (AT) (Insolvency) No. 287 of 2020 and No. 327 of 2020…

- **Court:** NCLAT
- **Order date:** 25 Jun 2020
- **Citation:** TCN-2020-NCLAT-00203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/in-the-matter-mr-abhijit-guhathakurta-vs-royale-partners-investment-fund-ltd-ca-e6b2c397

## Summary

### Background

This case involves two Company Appeals (AT) (Insolvency) No. 287 of 2020 and No. 327 of 2020 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeals arise from orders passed by the National Company Law Tribunal (NCLT), Mumbai Bench, concerning the implementation of a resolution plan for a corporate debtor. The core issue revolves around the propriety of a reconstituted NCLT bench staying proceedings in a matter where the original bench had already reserved orders. The Monitoring Agency of the Corporate Debtor, Mr. Abhijit Guhathakurta, is the Appellant in Company Appeal No. 287, challenging the NCLT's order. Royale Partners Investment Fund Ltd., the Successful Resolution Applicant, is the Appellant in Company Appeal No. 327, challenging the

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## Facts

The case involves a dispute over the implementation of a resolution plan approved by the NCLT for a corporate debtor. Mr. Abhijit Guhathakurta, the Monitoring Agency of the Corporate Debtor, filed MA No. 249/2020 seeking implementation of the resolution plan. Royale Partners Investment Fund Ltd., the Successful Resolution Applicant, allegedly delayed implementation. The original bench of the NCLT reserved orders on MA No. 249/2020 on 30.01.2020. However, the NCLT benches were reconstituted on 29.01.2020, effective 03.02.2020. The reconstituted bench stayed proceedings in MA No. 249/2020 via MA No. 515/2020. The Monitoring Agency challenged this stay, arguing that the reconstituted bench lacked jurisdiction. The Successful Resolution Applicant also filed an appeal,

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## Issues and analysis

### Issue 1: Whether the reconstituted bench of the NCLT had the jurisdiction to stay proceedings in MA No. …

**Ratio:** A coordinate bench cannot stay an order which was reserved by another coordinate bench of

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**Reasoning:** The NCLAT reasoned that the reconstituted bench acted beyond its jurisdiction by staying

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**Interpretation:** The interpretation of judicial discipline and the principle of coordinate

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**Application:** The NCLAT applied this principle to the specific facts, finding that the

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## Parties

- **Judges:** Venugop…; V. P. S…
- **Appellants:** Abhijit Guhathakur…
- **Respondents:** Royale Partners…

## Timeline

- **2019-01-10 — Letter of Intent (LOI)…**: The Successful Resolution Applicant…
- **2019-01-10 — Resolution Plan approved by Committee of…**: The Committee of Creditors…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 23 — Resolution professional to conduct corporate…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-23)

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