2023 (4) TMI 445

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..... peal (AT) (CH) (Ins) No. 136 / 2022 & ( IA No. 323 / 2022 & IA No. 190/2023 ) - -
Insolvency & Bankruptcy
[Justice M. Venugopal] Member (Judicial) And [Shreesha Merla] Member (Technical) For the Appellant : Mr. Krishna Srinivasan, Senior Advocate For Mr. T.K. Bhaskar, Mr. Srinath Sridevan, and Mr. K. Harishankar, Advocates For the Respondent-1 : Mr. Krishna Gandhi, Advocate For the Respon .....

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..... llant'), in Comp. App (AT) (CH) (INS.) No. 136 of 2022, at Paragraph No. 11 (b), it is observed as under: "Without prejudice to the above and without admitting to the legality of the invocation of the Bank Guarantee, with the sole objective of reaching a closure of the issues involved and for the purpose of putting matters to rest once and for all, the Appellant is willing to forego its prayer f .....

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..... 21 (i) (i.e., setting aside of the findings in the Impugned Order as contained in paragraphs 6, 9, 10, 11 and 14 to the extent that it finds failure / default of the Appellant) and 21 (ii) (i.e., setting aside of the directions contained in paragraphs 10 and 14 of the Impugned Order) of the Appeal may therefore be allowed and the directions to initiate prosecution against the Appellant (and / or .....

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..... on-implementation of the 'Resolution Plan'. 7. It is to be remembered that the 'Terms of Resolution Plan', being implemented, ofcourse, depends upon the contingent on execution of necessary documents, by 'NHAI' (inclusive of the 'Supplementary Agreement'). 8. In any event, the refusal on 'NHAI', in not accepting the 'Terms of Resolution Plan', cannot in any manner, be attributed, to the 'Appella .....

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..... e case, in a 'holistic fashion', to prevent an 'aberration of justice', and to secure the 'ends of justice', hereby 'Expunges', the 'Observations' / 'Findings' (including the aspect of 'Initiation of Proceedings', under Section 74 (3) of the I & B Code, 2016), made by the 'Adjudicating Authority' / 'Tribunal', in the aforesaid paragraph Nos. 6, 9, 10, 11 and 14 of the 'Impugned Order', dated 08.04 .....

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