AI Structured Summary
Not yet generated for this judgment
Judgment
IA NO.64/2023
Ld. Sr. Counsel for the Applicant present through VC.
This is an application for substitution of the name of the Creditor in the present petition from ‘Piramal Capital & Housing Finance Ltd.’ to ‘APRN Enterprises Pvt. Ltd.’
The notice was issued, which was accepted by the Ld. Counsel for the Corporate Debtor on the previous date i.e. 11.04.2023, whereby he has sought time to file reply. It was observed by this Tribunal vide an order dated 21.04.2023 that reply in the present application has not been filed by the Corporate Debtor and hence, a last opportunity was granted for filing reply with an advance copy to be supplied to the counsel opposite. It is further observed in the said order that, in case no reply is filed, appropriate order shall be passed in next hearing.
Today, there is no appearance on behalf of Corporate Debtor nor any reply has been filed so far.
We have considered the present IA which has been actuated on the basis of an assignment deed dated 02.11.2022 executed between the M/s India Resurgence ARC Private Limited with M/s APRN Enterprises Pvt. Ltd. The original Financial Creditor in the present case is Piramal Capital & Housing Finance Ltd., which has executed an assignment deed dated 02.08.2022 between the Piramal Capital & Housing Finance Ltd. with India Resurgence ARC Private Limited.
Therefore, now by virtue of the present assignment deed dated 02.08.2022, the APRN Enterprises Pvt. Ltd. has moved this IA for substitution of the name in the original petition accordingly.
In view of the averments made in the present IA and the submissions made by the Ld. Sr. Counsel representing the Applicant, the present IA is allowed and the name of the Financial Creditor is substituted from ‘Piramal Capital & Housing Finance Ltd.’ to ‘APRN Enterprises Pvt. Ltd.’
The present IA No.64/2023 is allowed and stands disposed off.
The title will accordingly be amended and shown in the cause list.
IA NO.185/2023
Ld. Counsel for the Applicant present.
This is an application moved by the Applicant for seeking intervention and for impleadment in the array of the parties in the present CP (IB) No.46/ALD/2022 filed U/s 7 of IBC by the Financial Creditor.
After arguing for some time, Ld. Counsel representing the Applicant seeks a short adjournment to place judicial precedents about the possibility of entertaining such a prayer during the pendency of the proceedings U/s 7.
Let the matter be adjourned for 4th July, 2023.