On July 25, Raveendran had filed a fresh writ petition before the Karnataka High Court seeking that the insolvency proceedings be suspended and the formation of the CoC be stayed until its appeal challenging the NCLT order was decided upon by the Chennai bench of the National Company Law Appellate Tribunal (NCLAT).
Appearing for Raveendran, Senior Counsel Abhishek Manu Singhvi had urged the Court on Thursday to hear the matter, saying that the CoC was likely to be constituted by August 2. If, in the meanwhile, the NCLAT bench did not hear the appeal, the petitioner will be left remediless, he said.
Source: Barandbench
