Reliance Commercial Finance Ltd vs V S Texmills Pvt Ltd

Application filed by M/s Chamaria Fashions Pvt. Ltd. seeking direction against Canara Bank. Mr. Nilesh for the Applicant states that the Canara Bank has submitted No Dues Certificate and he has been instructed to apply for withdrawal.

Accordingly, application is allowed to be withdrawn and disposed of.

Application filed by M/s Chamaria Fashions Pvt. Ltd. seeking direction against Canara Bank. Learned counsel for the Applicant states that this is another application seeking similar prayer which were sought in IA 222/2020. Since, IA 222/2020 is withdrawn by the applicant, this application has become infructuous.

Accordingly, application is disposed of as infructuous.

Application filed under Section 33 of the IBC, 2016 for the liquidation of the Corporate Debtor by one of the major stakeholders, Canara Bank. Learned counsel appearing for Canara Bank states that in view of the entire payment made as per the terms of resolution plan he has been instructed by Canara Bank to apply for withdrawal.

Accordingly, application is allowed to be withdrawn and disposed of.

Application filed by erstwhile RP seeking direction against Successful Resolution Applicant. The RP is claiming the expenses which were incurred for litigation to be paid to erstwhile RP after the CIRP was completed. The learned counsel for the Successful Resolution Applicant states that they have filed reply and they are objecting to the amount claimed as Rs. 3 Lakhs being spent on litigation which is exorbitant. Learned PCA for erstwhile RP, Mr. Shah states that they have supplied invoices raised by the respective counsels and all accounts with them, to the resolution applicant, for reimbursement of expenses.

We send the matter to IBBI to adjudicate the claim raised by the erstwhile RP, after hearing both the sides, and further to quantify the admissible amount and to file report within three weeks.

List on 06.05.2022.