9911796707
TMI Blog2023 (2) TMI 240X X X X Extracts X X X X X X X X Extracts X X X X ..... instant appeal as the impugned order is based on an incorrect interpretation of the provisions of Insolvency Bankruptcy Code, inter alia Section 7. At the outset, Counsel for the Appellant has been asked as to how the Appellant Board is an aggrieved person especially when the aggrieved person (Canara Bank) has already filed the appeals i.e. CA (AT) (Ins) No. 68 69 of 2023. In merely requested that the present appeal may be renotified to be heard alongwith aforesaid two appeals on 17.03.2023. However, from the perusal of the memorandum of appeal, we could not find the cause of concern much less the grievance of the Appellant for preferring the present appeal especially when the appeals have already been filed by the aggrieved person. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order dated 18.11.2022 and I.A. No. 677 of 2020 was dismissed as infructuous. The relevant portion of the impugned order is reproduced as under:- 11. After hearing both the parties and on perusal of the IA/677/2020 and CP(IB)4541(MB)/2019 including other material on record and the Judgement of Hon ble Supreme Court in Vidarbha Industries (Supra), we are of the view that the Corporate Debtor has monthly revenues of INR 120 Crores (net of GST), which shows that the Corporate Debtor is a viable going concern. Further, the Corporate Debtor has repaid an amount of INR 16,915 Crores between 2011 to August, 2018, which clears that the position of the Corporate Debtor is reasonably healthy and is in a position to repay the sustainable d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vs. GTL Infrastructure Ltd. and CA (AT) (Ins) No. 69 of 2023 Canara Bank Vs. GTL Ltd. , in which an order has been passed on 24.01.2023 which read as under:- Issue notice. Counsel for the Caveators accept notice and prays for an adjournment to file reply. Let the reply be filed on or before 21st February, 2023 with an advance copy to Counsel for Appellant who may, if so advised, file the rejoinder, if any, on or before 7th March, 2023. List these appeals for hearing on 17th March, 2023. 4. The present appeal has been filed by the Insolvency and Bankruptcy Board of India impleading GTL Infrastructure Limited as Respondent and Canara Bank as Performa Respondent. It is averred in the appeal that the Appellant is responsible ..... X X X X Extracts X X X X X X X X Extracts X X X X
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