9911796707
TMI Blog2024 (3) TMI 864X X X X Extracts X X X X X X X X Extracts X X X X ..... ency) No. 559 of 2024 - - X X X X Extracts X X X X X X X X Extracts X X X X ..... Bank Limited has directed that the matter to be listed on 19.03.2024 and parties are directed to file short synopsis not more than 2 to 3 pages before 19.03.2024. 4. Appellant has come up in these Appeals submitting that an Affidavit was filed before the Adjudicating Authority that Appellant has now as investor who is ready to pay the entire amount which was earlier arrived as per OTS dated 19.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bservations both the appeals are disposed off. We make it clear that we have not expressed any opinion on the merits of the case." 5. Learned Counsel for the Appellant submitted that after the aforesaid order, on 29.02.2024 e-mail was sent to both the Banks- ICICI Bank and Axis Bank requesting them to accept the OTS amount along with 12% interest. ICICI Bank did not respond whereas Axis Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed that the offer made by the Appellant is not acceptable to the Banks. 7. Shri Krishnendu Datta, Learned Senior Counsel appearing for the investors submits that the investor is ready to deposit the amount of Rs.167 Crores and Rs.86 Crores within a week. 8. Shri Navin Pahwa, Learned Senior Counsel submits that the Appellant is ready to deposit the up-to-date interest @12% on the said principal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g with 12% interest and Rs.87 Crores plus 12% interest before the NCLT within 10 days as prayed by way of FDR in favour of Registrar, NCLT. If the said deposit is made or not made, the Adjudicating Authority shall take appropriate decision on Section 7 application after hearing both the parties. 11. In view of the aforesaid, we see no reason to keep the Appeals pending. Both the Appeals are dispo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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