9911796707
TMI Blog2024 (3) TMI 504X X X X Extracts X X X X X X X X Extracts X X X X ..... of the interest - admission of the claim by the Resolution Professional - HELD THAT:- The Adjudicating Authority in the impugned order having noticed certain instances and decided that with regard to claim charging of the interest should be examined and adjudicated, there are no error in the order of the Adjudicating Authority when direction has been passed to examine the interest charge in the cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R (Hybrid Mode) Heard Learned Counsel for the Appellant and Learned Counsel for the Respondents. 2. This Appeal has been against the order dated 15.02.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Court-V, Mumbai Bench in IA No.529 of 2024 filed by the Bank of Baroda by which order the Adjudicating Authority has issued following directions in paragraphs 15, 16 and 17:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ep in mind the timelines of the BC because of which interim relief of stay/restraint are not the norm. Now applying the principles of grant of adinterim relief to the facts of the present case/case of the applicant, it is pertinent to note that the Applicant is a public sector bank which has agitated the issue in the month of April, 2023 and it is in the response of RP dated 01.05.2023 that the ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plans during the pendency of the present LA. will not cause any irreparable loss or prejudice to the interest of the respondents but not granting the said relief is bound to cause prejudice to the interest of the applicant, as the voting rights of the applicant have been adversely affected. Thus, prayer (c) of the I.A. is allowed and the respondents are restrained from voting upon the resolution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hority to balance the interest of the parties has directed that no further steps shall be taken for consideration and approval of the Resolution Plan. 6. It is further to be noticed that the next date fixed is 12.03.2024 and in the interest of all concerned, Adjudicating Authority may take a decision on the application and thereafter further steps may proceed in accordance with the law. We make it ..... X X X X Extracts X X X X X X X X Extracts X X X X
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