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TMI Blog2022 (5) TMI 19X X X X Extracts X X X X X X X X Extracts X X X X ..... titled to file I.A.No.450 of 2021 in Comp. App (AT) (CH) (INS) No. 215 of 2021 (Impleading Application) and accordingly the I.A.No.450 of 2021 fails. Application dismissed. - I.A.450 of 2021 in Company Appeal (AT) (CH) (INS) No. 215 of 2021 - - - Dated:- 28-4-2022 - [Justice M. Venugopal] [Member Judicial] And [Mr. Kanthi Narahari] [Member Technical] For the Petitioner : Mr. E. Om Prakash, Senior Advocate For the Respondent No.1 : Mr. M.S. Krishnan, Senior Advocate For the Mr. Anirudh Krishnan, Advocate For the Respondent No.2 : Mr. P.S. Raman, Senior Advocate For the Respondent No.3 : Mrs. Mummaneni Vazra Laxmi, Advocate For the Respondent No.4 : Mr. Shivakumar Mr. Suresh, Advocates. ORDER (Virtual Mode) Justice M. Venugopal, Member (Judicial) : The Petitioner/Bank has preferred the instant `Interlocutory Application No.450 of 2021 in Comp. App (AT) (CH) (INS) No. 215 of 2021 (under Rule 31 of National Company Law Appellate Tribunal Rules, 2016) seeking to implead the `Applicant as `Respondent No. 4 in main Company `Appeal . 2. According to the Learned Counsel for the `Applicant/ICICI Bank Ltd. , the ₹ 4th Respondent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.01 IOB 0.00 0.00 1.00 0.18 0.00 0.00 1.18 1.18 6.02 PNB 0.00 0.00 0.56 0.04 0.01 0.00 0.60 0.61 3.11 UCO 0.10 0.01 0.24 0.01 0.04 0.00 0.36 0.40 2.04 Total 4.73 0.88 9.63 1.93 0.12 2.27 17.16 19.57 100 5. It is represented on behalf of the `Applicant/Bank that the ₹ 3rd Respondent had created the undermentioned `Securities on `Pari-passu basis among the said `Lenders including the `Applicant , which runs as under: Security for Term Lo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he ₹ 3rd Respondent before the `Adjudicating Authority the 3rd Respondent took a stand that the 2nd Respondent had secured an `Order of Attachment in the `Execution Proceedings , in respect of the monies lying in the `Bank Accounts of the ₹ 3rd Respondent . By means of the said `Attachment the 2nd Respondent had virtually secured the entire award amount together with interest. 8. The stand of the `Applicant is that as regards the `present dues payable by the ₹ 3rd Respondent to it is that as on 30.06.2021, a sum of ₹ 3,148.62 Million in respect of various facilities availed from the `Applicant/Bank . The contention of the `Applicant/Bank is that the plea of the ₹ 1st Respondent/Appellant to the effect that the `sum payable to the ₹ 2nd Respondent is fully secured by means of an `Order of Attachment obtained against the ₹ 3rd Respondent , in respect of amounts lying with the `Banks is an incorrect one, because the said amounts lying in `Bank Accounts are fully `charged for the dues payable by the ₹ 3rd Respondent to all `Lenders . Moreover, the `Appellant/Promoter Company of the ₹ 3rd Respondent had pledged ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e ₹ 2nd Respondent , with such an `Award , being a `Decree of the Court against the `Corporate Debtor company is better placed as compared to the other `Vendors as their claims have been crystallised against the ₹ 3rd Respondent/Corporate Debtor by the Hon ble High Court and Hon ble Supreme Court. 15. The Learned Counsel for the ₹ 1st Respondent brings it to the notice of this `Tribunal , the ₹ 2nd Respondent had filed S.L.P.(C) No. 9252 of 2020 before the Hon ble Supreme Court, against the Order passed by the Hon ble High Court of Telengana in EX. EP. No. 3 of 2017 and that the `Special Leave Petition came up for hearing on 24.09.2021 and the same is pending. 16. The Learned Counsel for the ₹ 1st Respondent points out that the `Applicant/Bank has filed CP (IB) No.278 of 2022 before the `Adjudicating Authority (`National Company Law Tribunal , Bench II, Hyderabad), against the `Corporate Debtor and the same is pending. 17. The Learned Counsel for the ₹ 1st Respondent comes out with an argument that the `Applicant/Bank had not filed necessary applications to `implead itself either before the proceedings filed before the Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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