TMI Blog2022 (1) TMI 869X X X X Extracts X X X X X X X X Extracts X X X X ..... tes. For the Respondents: Mr. Vikram Wadehra, Ms. Vidushi Chokhani, Mr. Kunal Tandon, Advocates for R-1. Mr. Samrudhi Chothani, Mr. Siddharth Ranade, Mr. Raghav Bhargava, Ms. Richa Sandilya, Advocates for R-2/IRP. Mr. Vikram Nankani, Sr. Advocate with Mr. Kumar Anurag Singh, Ms. Aastha Shrestha, Mr. Zain A. Khan, Lekden Basi, Advocates for Intervenor. Mr. Parth Bhatt, Ms. Vishakha Gupta, Advocates for Intervenor. Mr. Karan Bharihoke, Advocate for Intervenor (EARC). Mr. Abhinav Vasisht, Sr. Advocate with Mr. Sanjay Goyal, Moulshree Shukla, Ishani Mookherjee, Ms. Priya Singh Advocate for SBI. Mr. Girish Juneja and Mr. Devendra Mehta, (IRP) ORDER (Virtual Mode) I.A. No. 2568-2569 of 2021 has been filed in Company Appeal (AT) (Insolvency) No. 884 of 2021 on behalf of Edelweiss Asset Reconstruction Company Ltd. Applicant. The Learned Counsel for the Applicant has filed I.A. No. 2568-2569 of 2021 under Rule 11 of the NCLAT Rules, 2016 read with Rule 31 of the NCLAT Rules, 2016 seeking to intervene in Company Appeal (AT) (Insolvency) No. 884 of 2021 against the judgment dated 21st October, 2021 passed by the Kolkata Bench in CP(IB) 369/KB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oinder, if any, may be filed by Learned Counsel for the Appellant as a hard copy, within one week, thereafter. List this matter on For Admission (After Notice) on 8th December, 2021. Till next date constitution of CoC shall remain stay. 4. It is further submitted that the Appellate Tribunal may be pleased to recall and vacate the stay granted vide order dated 28.10.2021 in the larger interest of the creditors of the Corporate Debtor. 5. It is further submitted that the Corporate Debtor is heavily under debt and in fact, is liable for debt to the tune of INR 789,22,33,407.93/-. Despite the constitution of a consortium of lenders and approval of resolution / settlement plans, the Corporate Debtor has continually defaulted and evaded payment of its dues. 6. It is further submitted that the Corporate Debtor in 2019 instituted a suit bearing CS No. 52 of 2019 before the Hon ble High Court of Kolkata seeking stay on implementation of the settlement/compromises with the creditors. 7. It is further submitted that the Corporate Debtor has defaulted upon and therefore, breached all settlement agreements and resolution plans that have been approved by the consortium of le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cating Authority without granting an opportunity of hearing to the Corporate Debtor has admitted the petition, thereby violating the principles of natural justice. 14. It is further submitted that the Applicant was nowhere involved when the said CP(IB) No. 369/KB/2020 was heard, therefore, the instant IA is not maintainable, it is fit to be rejected. 15. After hearing the parties and gone through the different orders passed by this Appellate Tribunal in the instant Appeal i.e. Company Appeal (AT) (Insolvency) No. 884 of 2021, this Appellate Tribunal on 08.12.2021 passed the following orders: Heard the Learned Sr. Counsel for the Appellant. Learned Counsel for Respondent No. 1 2 are present. From the perusal of the Order dated 28.10.2021, Counsel for Respondent No. 1 was directed to file his Reply Affidavit. Further, Notices were issued to Respondent No. 2. Today Respondent No. 2 has appeared. Further, the Constitution of CoC was stayed under the Order till today. Today when the case was called out, Learned Counsel for Respondent No. 1 is present and has not filed his Reply Affidavit yet. Learned Counsel for the Appellant submits that the Settl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vocate appears on behalf of the Applicant. 3. Mr. Jishnu Saha, Sr. Advocate assisted by Ms. Sonia Dube, Advocate appears on behalf of the Appellant submits that he has not filed the Reply to I.A. No. 2568 2569 of 2021. He is directed to file hard copy of the same latest by 11.01.2022. 4. List the Appeal along with I.A. No. 2568 of 2021 For Order on 13th January, 2022. In the meanwhile, Learned Counsel for the Applicant is directed to serve soft copy of I.A. 2568 of 2021 to the Learned Counsel for the Resolution Professional latest by 07.01.2022. 17. Again on 13.01.2022 the following order was passed: Today the matter was fixed for hearing in I.A. No. 2568-2569 of 2021 filed in Company Appeal (AT) (Ins.) No. 884 of 2021 (Mukul Somany vs. DBS Bank Ltd. Anr.). This matter was heard on 06.01.2022, whereby, Learned Counsel for the Appellant was directed to file hard copy of the Reply in I.A. No. 2568 2569 of 2021. Learned Counsel for the Appellant has filed Reply on 11.01.2022, which is taken on record. Today, this matter was called out thrice time but Learned Counsel Mr. Kuldeep Malik appears on behalf of the Appellant but Learned Senior Coun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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