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TMI Blog2019 (10) TMI 1502X X X X Extracts X X X X X X X X Extracts X X X X ..... unt which can be raised on sale/transfer - application disposed off. Seeking direction to Infrastructure Leasing and Financial Services Ltd. to call the Applicant to the meeting of the Committee of Creditors to discuss the deliberation and resolution of CNTL - HELD THAT:- If the Appellant SREI Infrastructure Finance Ltd. has been accepted as Financial Creditor or secured creditor, it may bring the same to the notice of the Board of Directors who may consider the same and decide as to whether their information is required for deliberation with regard to resolution of CNTL . If such application is filed, the Board of Directors will pass appropriate order on the same in accordance with law and if it necessary, to take up the ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shik, Mr. Kamesh, Advocates For Respondents: Mr. K.K. Jha, Mr. Raunak Dhillon, Mr. Ishan Gaur,, Mr. Parikalp Gupta, Advocates, Mr. Yati Sharma, Ms. Priya Puri, Ms. Srishti, Sharma, Mr. Anuj Aggarwal, Advocates, Mr. Sidharth Sethi, Ms. Tanya Tiwari, Advocates, Mr. K. Datta, Mr. Rahul Gupta, Advocates, Mr. Ashish Rana, Advocate, Mr. Vivek Malik, Advocate, Mr. Vikram, Advocate, Mr. Kamal Kant Jha, Advocate ORDER I.A. Nos. 2673,2674,2675,2676,2677 These applications have been preferred by Applicant(s) Lalpur Wind Energy Private Limited (in I.A. No. 2673/2019); Rated Wind Power Private Limited (I.A. No. 2674/2019); Khandke Wind Energy Private Limited (I.A. No. 2677/2019) with similar prayer to implead Gujarat Urja Vik ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es under Section 241(2) of the Companies Act, 2013, we are not inclined to decide individual applications on merit. We have noticed that the aforesaid two Companies namely GIMCO and Sealand Ports are also the group companies of the Infrastructure Leasing and Financial Services Ltd. and those entities have been marked as red entities. In the circumstances, we allow the Applicant to bring the aforesaid fact to the notice of the concerned Board of Directors who are considering the same. It will also be open to them to ask for interim stay from the Board of Directors to enable the Appellant for better proposal to raise more amount than the amount which can be raised on sale/transfer. If such interim relief is sought for, the Board o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I not to terminate the Concession Agreement between NHAI and Fagne Songadh Expressway Limited which was reached for execution of Fagne Songadh Expressway Limited . Further prayer has been made to direct the Appellant (ILFS) to place the Resolution Plan before the appropriate Committee. In the present case as the matter is being looked into by the Board of Directors and Committee constituted for individual group companies including two Expressway Ltd. including Fagne Songadh Expressway Limited , we are not inclined to deliberate on the issue, however, we are giving liberty to the Appellant to bring the facts to the notice of Board of Directors of ILFS and Committee if constituted that it has already filed the Resolution P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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