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Judgment
IA NO.265/2020
This is an application filed by the Havells India Limited seeking direction upon the respondents to cease and desist from the use of them "Lloyd" in any way, shape or form, from including the formal name of Lloyd Electric & Engineering Limited in any of its communication.
We have heard, the learned counsel appearing on both sides.
The CIRP commencement dated is 04.03.2020. Regulation 4B of the CIRP Regulations require the Insolvency Professional managing the Corporate Debtor to disclose all the former names and registered office addresses so changed along with current name and registered office address in every communication, record proceedings or other documents. This is required to be done for the period of two years proceeding with the Insolvency commencement date. In the present case the change the name of the Corporate Debtor took place with effect from 23.05.2017 and, therefore, the IRP/RP had no business to be including the former name in any communication records, proceeding or any other documents.
In this view of the matter, Prayer "a" of IA No. 265/2020 is hereby allowed. Other prayer for damages is rejected.
With these directions IA No.265/2020 shall stand disposed of.
IA NO. 266/2020
Heard the learned counsel appearing on both sides.
The question revolves around assumption of responsibility by the Corporate Debtor which under a letter agreement dated 16.08.2018 was required to be performed by the Applicant herein and for which he had raised a consideration of approximately Rs.124 crore. Learned counsel appearing for the RP submits that the claim of the Applicant herein to that extent has been admitted under the Operational Creditor category.
In these circumstances, we do not feel that it is a fit case to discharge the Applicant herein from his responsibilities under the letter agreement for compliance with the extending producer responsibility authorisation EPRA dated 25.04.2017 in terms of the Environment Protection Act, 1986.
When this was pointed out, learned counsel appearing for the Applicant sought to withdraw the present application. Recording these submissions IA No.266/2020 is dismissed as withdrawn. The Applicant is, however, free to pursue other remedies, if the same are available to it under law.