AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
IA (IBC)/56/2022
Ld Counsels Mr.Y.Suryanarana, Mr.Sachin Sharma, Mr.R.Ram Krishna alongwith RP for the respondents present.
Orders pronounced recorded vide separate sheets. In the result, this application is dismissed as not maintainable.
IA (IBC)/158/2022
Ld Counsels Mr.Y.Suryanarana, Mr.Sachin Sharma, Mr.R.Ram Krishna alongwith RP for the respondents present.
Orders pronounced recorded vide separate sheets. In the result, this application is dismissed as not maintainable.
ORDER
IA(IBC)/748/2023, IA No.537/2018
Ld Counsel Mr.Y.Suryanarana for the Applicant present. Ld Counsel G.Santhoshi Kumari, Proxy of R.Anil Reddy, Advocate for the Respondent (Jammu & Kashmir Bank).
Matter adjourned to 12.12.2023.
IA(IBC)/293/2021, IA(IBC)/509/2021, IA No.231/2018, IA No.10/2019, IA No.790/2020 in IA No.32/2019, IA No.913/2020 in IA No.537/2018, IA No.1071/2020, IA (IBC)/12/2021, IA(IBC)/20/2021 in IA No.10/2019, IA(IBC)/41/2021 in CP (IB) No.248/7/HDB/2017
Ld Counsel Ms.Kajal Kumari for Respondent ( Bank of America) present. Ld Counsel Mr Gyanendra Kumar for SRA present Dr A.M.Singhvi, Sr Advocate, Mr.Dwijesh Kapila present Ld Counsel Mr.Pankaj Vivek, Bank of Baroda present. Mr.Manoj Kumar, Ld PCS for Telangana State Tourism Development Corporation Ltd present . Sri B.S.Prasad, Advocate General, State of Telangana present.
Sri Gyanendra Kumar, Ld.Counsel representing the first respondent (SRA) has invited our attention to the Memo dated 05.10.2023 filed by the SRA and submitted that pursuant to the directions of this Tribunal to update the status of the Writ Petition No.17129/2020 pending before the Hon’ble High Court of Telangana and the Company Appeal No.426 of 2020 pending before the Hon’ble NCLAT, once in three weeks, memos are being filed from time to time.
Ld Counsel stated that the Writ Petition has already been dismissed on 28.04.2023 and in the Appeals pending before the Hon’ble NCLAT, arguments on behalf of the applicants were concluded and for hearing the submissions of the CoC, the matter has been adjourned to 05.10.2023.
Ld Counsel further brought to our notice that negotiations are being held with the Government of Telangana, on payment proposals by the SRA. Ld Counsel, therefore, submitted that if further 90 days time is granted, the process of amicable settlement may fructify, hence sought 90 days time.
Ld Senior Counsel Dr A.M.Singhvi for the SRA also reiterated the submissions of Ld Advocate Sri Gyanendra Kumar and prayed that the matter may be adjourned by at least 90 days.
Mr.B.S.Prasad, Ld Advocate General also preferred adjournment on the ground that there may be an amicable settlement between the SRA and the Government of Telangana as negotiations are on for an amicable settlement.
Having heard the Ld Counsels, on perusal of the Memo and taking into consideration the fact that arguments in Company Appeal No.426 of 2020 have sufficiently progressed, we adjourn the matter to 12.12.2023 with a direction to the parties to report the outcome of the negotiations and the progress in Company Appeal No.426 of 2020 by next hearing date and also to get ready for submissions, if settlement is not arrived at. Call on 12.12.2023.