Mr. Harvatar Singh Arora, the Promoter of James Hotel, filed an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench. The appeal sought a stay of proceedings based on a challenge to the vires of the ‘I&B Code’, which was not accepted. A key issue was whether the period of a stay order issued by the High Court of Punjab and Haryana should be excluded from the 270-day period allowed for the Corporate Insolvency Resolution Process. The court found that this question was already under consideration by the Adjudicating Authority. The relevance of the stay order is that it potentially impacts the timeline for the Corporate Insolvency Resolution Process, which is statutorily limited to 270 days.

Mr. Harvatar Singh Arora, the Promoter of James Hotel, filed an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench. The appeal sought a stay of proceedings based on a challenge to the vires of the ‘I&B Code’, which was not accepted. A key issue was whether the period of a stay order issued by the High Court of Punjab and Haryana should be excluded from the 270-day period allowed for the Corporate Insolvency Resolution Process. The court found that this question was already under consideration by the Adjudicating Authority. The relevance of the stay order is that it potentially impacts the timeline for the Corporate Insolvency Resolution Process, which is statutorily limited to 270 days.