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2019 (10) TMI 419

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..... the reason for rejection of the claim is since the Hon’ble DRT, Hon’ble DRAT, Hon’ble High Court of Madras and Hon’ble Supreme Court of India held that this Applicant will not have any locus to proceed against the Corporate Debtor for the right of assignment conferred upon by this Applicant by the two banks aforementioned has already been transferred to M/s. Poddar Projects .....

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..... India and Indian Overseas Bank towards the loans availed by it, thereafter as Indian Overseas Bank assigned its debt to the applicant on 19.03.2008 and Bank of India assigned its debt to the applicant on 31.03.2008, this applicant, in turn, on 29.07.2009 entered into Agreement of Assignment with an investor namely M/s. Poddar Projects Limited (Poddar) for takeover of this debt by Poddar on consid .....

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..... ble High Court of Madras by filing Writ Petition 5121 of 2017assailing the orders passed by the DRT and DRAT stating that since the investor (M/s. Poddar Projects Limited) failed to perform its obligations, the applicant canvassed before the Honorable High Court that its status in respect to the debt assigned by the Banks shall be restored, so that it could proceed against the Corporate Debtor. O .....

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..... dras, this Applicant approached the Hon ble Supreme Court of India assailing the order passed in the above Writ Petition, but that was also dismissed. Till date this applicant has not initiated proceedings against the M/s. Poddar Projects Limited for nullification of the Agreement of Assignment executed in favor of the M/s. Poddar Projects Limited. After having failed at all fronts, this Applicant .....

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..... or rejection of the claim is since the Hon ble DRT, Hon ble DRAT, Hon ble High Court of Madras and Hon ble Supreme Court of India held that this Applicant will not have any locus to proceed against the Corporate Debtor for the right of assignment conferred upon by this Applicant by the two banks aforementioned has already been transferred to M/s. Poddar Projects Limited, therefore no right has rem .....

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