Reserve Bank Of India vs Reliance Capital Ltd

Heard Ld. Sr. Advocate Mr. Ravi Kadam for the Administrator for a considerable time and has concluded their argument. Partly Heard Ld. Sr. Advocate, Mr. Kapil Sibal for CoC.

Ld. Counsel for the Torrent Investment Private Limited and the Ld. Counsel for the IndusInd International Holdings Limited are present and states that they will not withdraw from the challenge mechanism, they will continue to hold the field. The Ld. Counsel for the CoC states that they will hold the further process of extend challenge mechanism on Monday. Needless to say, that this statement is without prejudice to the rights and contentions of all the parties.

Ld. Sr. Advocate, Navroz H. Seervai for the Applicant is present. This is an Application filed by the Applicant who is the Prospective Resolution Applicant of the Corporate Debtor. Limited prayer in this Application is for impleadment of IndusInd International Holdings Limited as a party respondent in IA 1 of 2023 filed by Torrent Investment Private Limited. Having considered the submissions made by the Sr. Counsel and the averments made in the Application, this Bench satisfied and, accordingly, allows the impleadment of the applicant herein as a Party Respondent in I.A. 01/2023 filed by Torrent Investment Private Limited. Applicant in I.A. 1/2023 is directed to serve a copy of the Application to the newly added respondent forthwith.

List these Interlocutory Applications bearing I.A. No. 1/2023, I.A. 99/2023 & I.A. 150/2023 on Board on 19.01.2023. Registry is directed to list this matters on Board on the adjourned date under the Caption of 'Part Heard'.

List these Applications on Board on 01.02.2023.