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Judgment
O R D E R
14.02.2023: I.A. Nos. 206, 208, 351, 373, 712, 720, 723 and 757 of 2019: The prayer in these applications are for impleadment/intervention of the Applicant in the Appeal.
Shri Ramji Srinivasan, learned senior counsel alongwith Ms. Isha Malik, Advocate and Mr. Nihaad Dewan, Advocate appearing for IL&FS submits that after the order dated 12.03.2020, steps have been taken in the final resolution plan and the interest of all stakeholders in view of the distribution framework as directed by this Tribunal shall be taken due care.
In view of the aforesaid, we see no reason to permit impleadment or intervention as prayed in these applications. All the applications are closed. However, there shall be liberty to those applicants whose grievances are still subsisting to file fresh application.
I.A. Nos. 349 and 4114 of 2019: Shri Ramji Srinivasan, learned senior counsel for the IL&FS submits that in view of the order of this Tribunal dated 12.03.2020 and the subsequent events taken place thereafter, prayers made in these applications do not survive.
In view of the above, applications are closed. However, liberty shall be reserved to file a fresh application if there are still grievances to the applicants.
I.A. Nos. 361, 1112, 1681, 2789, 3672 and 254 of 2019: The principal prayer in these applications is modification of order dated 15.10.2018. In view of the order dated 12.03.2020 and the subsequent orders passed in other application with similar prayers, refusing to modify said order dated 15.10.2018 these applications are closed.
I.A. Nos. 370, 4103 and 4323 of 2019: By these applications preferential payments have been claimed which cannot be granted as per the Resolution Framework as approved by order dated 12.03.2020.
In view of the order dated 12.03.2020, the prayers made in the applications cannot be entertained, hence, the applications are closed.
I.A. Nos. 2199, 2788 and 2762 of 2019: Shri Ramji Srinivasan, learned senior counsel for the IL&FS submits that the entities in question have already been resolved as per the Resolution Framework.
In view of the aforesaid, no orders are required in these applications. Applications are closed.
I.A. Nos. 3859 and 3860 of 2019: Shri Ramji Srinivasan, learned senior counsel appearing for IL&FS submits that with regard to these applicants settlement has already been arrived between the parties as per the Resolution Framework.
In view of the aforesaid, no orders are required to be passed. Applications are closed.
I.A. No. 153 of 2019: This application has already been disposed of by our order dated 20.01.2023. No further order is required. I.A. is closed.
I.A. Nos. 4103, 2678, 2679, 2680 and 2681 of 2019: These applications have been filed by the ILFS entities which by the subsequent events have become infructuous. These applications are dismissed as infructuous.
I.A. No. 574 of 2019: With regard to similar application, we have already passed an order on 24.08.2022 in I.A. No. 343 of 2019. This application is disposed of in the same terms.
I.A. No. 785 of 2021: Learned counsel for the parties submit that the application is already been disposed of by order dated 19.01.2023 passed in I.A. No. 817-818 of 2021. It is submitted that I.A. No.785 is same as I.A. No. 817-818 of 2021.
We, thus, dispose of I.A. No. 785 of 2021 in same terms in view of the order dated 19.01.2023.
I.A. No. 4526 of 2022: This application has been filed by National Highway Authority of India (NHAI) praying for following reliefs:
“(a)Direct M/s IL&FS Engineering and Construction Company Limited and/or the Respondent i.e. IL&FS to invoke the Bank Guarantee No. PBG100701400522 dated 25.11.2021 as extended from time to time issued by the Ratnakar Bank Limited and pay an amount of Rs.13,19,83,598/- to the Applicant/Intervener; and /or
(b)In the alternative and without prejudice to the above direct M/s IL&FS Engineering and Construction Company Limited and/or the Respondent i.e. IL&FS to give a new bank Guarantee And/or
(c)Direct M/s IL&FS Engineering and Construction Company Limited to extend the Bank Guarantee No. PBG100701400522 dated 25.11.2021 and keep it alive till the disposal of the present appeal.
(d)Pass such order or further order(s) as may be deemed fit and proper in the facts and circumstances of the case.”
Learned senior counsel for the IL&FS submits that IECCL is in the process of initiating arbitral proceedings against NHAI to contest the claim amount under the bank guarantees. It is, however, submitted that the bank shall keep the bank guarantees alive and extend it for six months.
We have refused prayer for invocation of bank guarantee in other applications, hence, we are unable to grant relief (a) as claimed in the application. However, the bank guarantee given by the IL&FS Engineering and Construction Company Limited be extended for six months. Application is disposed of. This extension of bank guarantee shall be subject to any order passed by any competent forum.
I.A. No. 4977-4978 of 2022: This application has been filed by Shruthi Total HR Solutions Pvt. Ltd. By the application applicant has prayed for direction for payment of outstanding amount of Rs.1,09,29,254/- against the IL&FS Environment and Infrastructure Ltd. as well as amount of Rs.8,53,621/-which is due form Respondent No.1. The Respondent No.1 i.e. Indo Enviro Integrated Solutions Limited has already taken over under the Resolution Plan. Learned counsel for Respondent No.1 submits that Respondent No.1 shall make payment of any amount which is subsequent to the cut of date for which appropriate details be given by the applicant to the Respondent No.1.
We permit the applicant to give the details of amount after cut of date i.e. 15.10.2018, which shall be paid by the Respondent No.1 within one months from receipt of the claim. Application is disposed of accordingly.
I.A. No. 4867 of 2022: This I.A. has been filed by the State Bank of India praying for following directions:
“a. Direct the Appellant IL&FS /ITNL to pay the applicable guarantee commission with interest for delayed BG commission payment to the Applicant Bank for renewal of the 15BGs, which is as per the Indemnity & Agreement and is being done in compliance with the interim orders passed by this Hon'ble Tribunal.
b. Direct the Appellant IL&FS/ ITNL to submit to the Applicant Bank the original BGs and the discharge confirmed in writing from the Beneficiaries in respect of the said 12 BGs; And till such time continue to pay the applicable Guarantee Commission to the Bank in respect of all 15 BGS;
c. To pass such further and other orders as this Hon'ble Appellate Tribunal may deem just and proper.”
Shri Ramji Srinivasan, learned senior counsel for the IL&FS replying the application as made following suggestions:
(i)For the BG's that are not required to be extended (5 Nos.), ITNL/IL&FS undertakes to return BG's within 6 months so liability can be discharged (Details of the said BG's, table @ Pg. 7 of the Reply).
(ii)For the remaining BG's (8), ITNL/IL&FS is agreeable to extend them for a maximum period of 6 months and/or till such time the BG's in question become returnable, whichever is earlier, and also undertakes to pay the BG Commission charges on the same (Details of the said BGs, table@Pg. 8).
Learned counsel for the IL&FS submits that certain contracts have been terminated, in such case bank guarantee shall be returned to the Bank and for 8 bank guarantees, details of which have been given in the reply, where extension is required, the IL&FS shall make payment of commission charges.
Recording the submission of the IL&FS, we direct the IL&FS to return such bank guarantees to the Bank for which extension is not required. We also direct that IL&FS shall make payment of commission charges with regard to bank guarantees for which extension is now sought for, in the peculiar facts and circumstances of the present case. Application is disposed of accordingly.