In view of the subsequent development and as Indian Renewable Energy Development Agency Ltd. and National Asset Reconstruction Company Limited have accepted the proposal, we set aside the impugned order as well as the judgment/order dated 27.06.2023 passed by the National Company Law Tribunal1, Special Bench-I, Chennai, and remit the matter to the NCLT, to examine and follow the procedure established by law in terms of Section 12A of the Insolvency and Bankruptcy Code, 2016.
The appeal is disposed of in the above terms.
To cut short delay, parties are directed to appear before the NCLT on 10.04.2024, when a date of hearing will be fixed.
We request the NCLT to decide the matter expeditiously.
Pending application(s), if any, shall stand disposed of.
1“NCLT”, for short.