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TMI Blog2022 (1) TMI 869X X X X Extracts X X X X X X X X Extracts X X X X ..... Samrudhi Chothani, Mr. Siddharth Ranade, Mr. Raghav Bhargava, Ms. Richa Sandilya, Advocates for R-2/IRP. Mr. Vikram Nankani, Sr. Advocate with Mr. Kumar Anurag Singh, Ms. Aastha Shrestha, Mr. Zain A. Khan, Lekden Basi, Advocates for Intervenor. Mr. Parth Bhatt, Ms. Vishakha Gupta, Advocates for Intervenor. Mr. Karan Bharihoke, Advocate for Intervenor (EARC). Mr. Abhinav Vasisht, Sr. Advocate with Mr. Sanjay Goyal, Moulshree Shukla, Ishani Mookherjee, Ms. Priya Singh Advocate for SBI. Mr. Girish Juneja and Mr. Devendra Mehta, (IRP) ORDER (Virtual Mode) I.A. No. 2568-2569 of 2021 has been filed in Company Appeal (AT) (Insolvency) No. 884 of 2021 on behalf of "Edelweiss Asset Reconstruction Company Ltd." - Applicant. The Learned Counse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Corporate Debtor were discussed. The minutes of the meeting have been placed on record from which it appears that the majority of the Consortium members are in favour of the restructuring plan submitted by the Corporate Debtor. The Ld. Senior Counsel seeks some more time to report the outcome of the final decisions of the members of the Consortium. At the request and in the interest of settlement, time is granted. List this matter on 8th October, 2021, for reporting the outcome of the restructuring proposals submitted by the Corporate Debtor." It is further informed that now the matter has been adjourned as the Terms of Settlement is going on outside of the Court. Further, Learned Senior Counsel for the Appellant submits that Im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and therefore, breached all settlement agreements and resolution plans that have been approved by the consortium of lenders over the years, and now when it is admitted into the CIRP, it has sought to wriggle out of its liabilities once again by making false promises of settlement before this Appellate Tribunal. 8. It is further submitted that there are another application filed against the Corporate Debtor before the Ld. Adjudicating Authority, Kolkata Bench i.e. CP(IB) 1341/2019 titled State Bank of India Vs. Hindustan National Glass & Industries Limited and CP(IB) 482/2020 titled Vital Paper Products Pvt. Ltd. Vs. Hindustan National Glass & Industries Ltd. 9. It is further submitted that the Applicant on 8th September, 2021 had also fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company Appeal (AT) (Insolvency) No. 884 of 2021. 13. It is further submitted that the instant Appeal has arisen from the impugned order dated 21st October, 2021 passed by Ld. Adjudicating Authority in CP(IB) No. 369/KB/2020 wherein the Ld. Adjudicating Authority without granting an opportunity of hearing to the Corporate Debtor has admitted the petition, thereby violating the principles of natural justice. 14. It is further submitted that the Applicant was nowhere involved when the said CP(IB) No. 369/KB/2020 was heard, therefore, the instant IA is not maintainable, it is fit to be rejected. 15. After hearing the parties and gone through the different orders passed by this Appellate Tribunal in the instant Appeal i.e. Company Appeal (AT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar, Deepanjan Dutt Roy, Ms. Ishani Mookherjee & Ms. Priya Singh, also proposed to intervene on behalf of the Lead Banker SBI having 37% of voting rights. He is directed to file his Hard Copy of I.A. Applications within two weeks. Office of the Registry is directed to accept it. Further, Learned Counsel for Respondent No. 2 Mr. Girish Sriram Juneja, the IRP of Hindustan National Glass & Industries Ltd. submits that the IRP has taken over the charge and currently verifying the claims pursuant to the issuance of Expression of Interest. He is directed to file the Hard Copy of his Reply Affidavit of the latest status within two weeks. Registry is directed to accept it. List this matter 'For Admission (After Notice)' on 06th January, 2022. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al (AT) (Ins.) No. 884 of 2021 (Mukul Somany vs. DBS Bank Ltd. & Anr.). This matter was heard on 06.01.2022, whereby, Learned Counsel for the Appellant was directed to file hard copy of the Reply in I.A. No. 2568 & 2569 of 2021. Learned Counsel for the Appellant has filed Reply on 11.01.2022, which is taken on record. Today, this matter was called out thrice time but Learned Counsel Mr. Kuldeep Malik appears on behalf of the Appellant but Learned Senior Counsel Mr. Jishnu Saha could not appear despite audio-video link been sent to them. Learned Counsel Applicant who has filed the aforesaid I.A is represented by Learned Senior Counsel Mr. Vikram Nankani and Learned Counsel Mr. Vikram Wadehra are present. Learned Senior Counsel Mr. Ab ..... X X X X Extracts X X X X X X X X Extracts X X X X
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