# In the matter of Liberty Steels SBQ Limited Vs. Ashish Arjunkumar Rathi and Ors. CA(AT)(Ins)No. 977 of 2020

> NCLAT judgment dated 2020-11-12. Citation: TCN-2020-NCLAT-00049. This is an appeal against an oral order dated 09.11.2020 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 12 Nov 2020
- **Citation:** TCN-2020-NCLAT-00049
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/liberty-steels-sbq-limited-vs-ashish-arjunkumar-rathi-and-ors-ca-0fac98ca

## Summary

### Background

This is an appeal against an oral order dated 09.11.2020 passed by the Adjudicating Authority (NCLT, Chennai Bench) regarding I.A. No. ....in CP (IB) No. 665/IB/CB/2017. The appellant had moved an application before the Adjudicating Authority (National Company Law Tribunal) Chennai Bench at Chennai vide Annexure – 11. The Tribunal orally directed to list the I.A. on 17th December, 2020, prompting the appeal.

## Facts

Liberty Steels SBQ Limited, the appellant, filed an appeal against an oral order dated 09.11.2020 passed by the Adjudicating Authority (NCLT, Chennai Bench) in I.A. No. ....in CP (IB) No. 665/IB/CB/2017. The appellant had moved an application before the Adjudicating Authority (National Company Law Tribunal) Chennai Bench at Chennai vide Annexure – 11. The Tribunal orally directed to list the I.A. on 17th December, 2020. Ashish Arjunkumar Rathi (Liquidator appointed in M/s SBQ Steels Limited in Liquidation), SBQ Steels Limited (In Liquidation), and Edelweiss Asset Reconstruction Company Ltd. are the respondents. The appellant seeks an earlier hearing of the I.A.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should be directed to urgently hear and decide the I.A. filed by …

**Ratio:** The Adjudicating Authority should take up

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**Reasoning:** The court observed that the Adjudicating Authority needs to take a decision first and

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**Interpretation:** The court interprets the situation as requiring the Adjudicating Authority to

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**Application:** The court directs the Adjudicating Authority to take up and decide the I.A.

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## Parties

- **Judges:** A.I.S. C…; V. P. S…
- **Appellants:** Liberty Steels…
- **Respondents:** SBQ Steels…; Ashish Arjunkumar…

## Timeline

- **2020-11-09 — Oral Order by…**: The Adjudicating Authority (NCLT, Chennai Bench) orally directed to list the I.A. on 17th…
- **2020-11-06 — Date of I.A. An…**: I.A. Annexure 11 (page 125 of the Appeal…

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