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TMI Blog2018 (5) TMI 1906X X X X Extracts X X X X X X X X Extracts X X X X ..... earned Counsel appearing on behalf Reliance Infratel Limited & Ors. produced a letter dated 29.05.2018 which reads as follows: "29.5.2018 To, 1. HSBC Daisy Investments (Mauritius) Limited 2. Drawbridge Towers Limited 3. Galleon Technology Offshore Limited 4. Galleon Special Opportunities Master Fund, SPC, Limited Galleon Crossover Segregated Portfolio, 5. Galleon Special Opportunities Master Fund, SPC, Limited Galleon Asia Crossover Segregated Portfolio, 6. IIC Pond View R Tower Limited, 7. IIC Lispenard R Tower Limited 8. Investment Partners B(Mauritius) Limited, 9. NSR PE Mauritius LLC/Revendell PE LLC, and 10. Quantum (M) Limited Re.: Company Appeal (AT) No. 99 of 2018 Reliance Infratel Ltd. & Ors. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C/Revendell PE LLC, and 10. Quantum (M) Limited ..... hereinafter collectively referred to as "Respondents" Appellants and Respondents are hereinafter collectively referred to as "Parties" and individually as "Party". 1. The Respondents are minority shareholders (holding 4.26% shares) in Appellant No. 1 Company. Being aggrieved by various acts of the majority shareholders (Appellant Nos. 2 and 3), the Respondents had filed a Company Petition No. 7 of 2016 against inter alia the Appellants alleging oppression and mis management, which is pending before the NCLT, Mumbai Bench. 2. The parties have now agreed to put an end to the ongoing disputes and in view thereof have entered into the present Consent Terms to be effective upon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany Petition No. 7 of 2016 shall also stand disposed of upon the Insolvency exit date. The Respondents agree and undertake to withdraw the Special Leave Petition (Civil) No. 9462 of 2018 pending before the Hon'ble Supreme Court of India within 15 days of the Insolvency exit date. 6. All parties withdraw all allegations against each other. 7. No order as to costs. Dated this ______ day of May 2018 For Reliance Infratel Limited (Appellant No. 1) For Reliance Communications Infrastructure Limited (Appellant No. 2) For Reliance Communications Limited (Appellant No. 3) For Agarwal law Associates (Advocate for the Appellants) For (1) HSBC Daisy Investments (Mauritius) Limited (2) Drawbridge Towers Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mits that they agree with the 'consent terms' which will be signed.
Mr. Tushar Mehta, learned Senor Counsel appearing on behalf of State Bank of India (Appellant in analogous matters) submits that in view of 'consent terms' between the Appellants and Respondents of the Company appeal (AT) No. 99 of 2018, the State Bank of India and 'Joint Lender Forum' will await the outcome of Insolvency and proposed 'consent terms'.
In view of the aforesaid developments, learned Counsels of the parties sought for and allowed to withdraw the Appeal, without going into the merit, with liberty to proceed in terms with the 'consent terms' after 'Insolvency exit date' if permissible.
Both the appeals stand disposed of with the aforesaid observations. X X X X Extracts X X X X X X X X Extracts X X X X
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