Case Note & Summary
The matter involved an application filed by Sasmita Rani Samanta in the context of Comp. App. (AT) (Ins) No. 519 of 2026, which was previously disposed of by an order on 18/03/2026. The court noted that the application under Section 12A of the Insolvency and Bankruptcy Code, 2016, had been listed on four occasions but remained pending. Counsel for the IRP indicated that further claims had been received, while HDFC Bank's counsel mentioned plans to file an intervention application in the 12A proceedings. The court refrained from making any observations or issuing directions regarding the appeal, emphasizing the need for the Adjudicating Authority to hear the 12A application promptly, with the next date set for 24/06/2026. The application was disposed of with the directive for timely hearing.
Headnote
A) Insolvency Law - Section 12A Application - Timely Hearing - Insolvency and Bankruptcy Code, 2016, Section 12A - The court directed the Adjudicating Authority to endeavor to hear the pending Section 12A application on the next date or as early as possible, acknowledging the delays in the proceedings. Held that timely resolution of applications is essential for the integrity of insolvency proceedings (Paras 1-5).
Issue of Consideration
Whether the Adjudicating Authority should expedite the hearing of the pending Section 12A application.
Final Decision
The tribunal directed the Adjudicating Authority to endeavor to hear the pending Section 12A application on the next date or as early as possible, disposing of the application with this observation.
Law Points
- Insolvency proceedings
- Section 12A application
- Adjudicating Authority's discretion
