9911796707
TMI Blog2023 (8) TMI 1156X X X X Extracts X X X X X X X X Extracts X X X X ..... i Pandey for R2 Mr. Nalin Kohli, Mr. Gajanand Kirodiwal, Ms. Ritu, Mr. Aditya, Ms. Shruti Agarwal, Advocates for Intervenor. Ms. Ayshwarya Chander, Mr. Parag Rai, Advocates. ORDER This appeal has been filed against the order passed by the Adjudicating Authority dated 23.11.2022 by which order the application filed u/s 7 by the Canara Bank has been admitted by the Adjudicating Authority. When this appeal was heard by this Tribunal on 30.11.2022 the following order was passed: - "30.11.2022: This Appeal has been filed against two orders dated 14.11.2022 and 23.11.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. Learned counsel appearing for the Canara Bank submits that order dated 14.11.2022 was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioned above. I say that as per the Form 1 as filed by the Respondent (Annexure A-3 of the Appeal), the allegedly recoverable amount is mentioned as INR 368,85,54,194.56/-. 13. I say that the Scheme envisages payment of dues (inclusive of principal and interest) to the Respondent upon the monetization of the said asset, as the Respondent is the exclusive first charge holder of the said asset. 14. I say that in case the above factual position is not clarified by the Scheme ( as annexed with the present Appeal), I undertake to liquidate the entire dues of the Respondent upon monetization of the asset in terms of the Scheme mentioned above." 4. Learned counsel for the Appellant submits that the Scheme's first motion has been directed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel for the Appellant as well as Learned Counsel for the Canara Bank submits that in view of the acceptance of the 'One Time Settlement' (OTS) the Canara Bank does not intend to proceed with the CIRP any further. 5. Learned Counsel appearing in IA No. 1850 submits that Applicant (SRS Private Investments Powai Ltd.) has interest in Company of Supreme Housing & Hospitality Pvt. Ltd., the Financial Creditor. 6. Learned Counsel for the SRS Private Investments Powai Ltd. has also referred to paragraph 82 in the judgment of Hon'ble Supreme Court in (2019) 4 SCC 17 in the matter of Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. 7. After having heard the Learned Counsel for the Appellant and Learned Counsel for the Canara Bank, we are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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