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Tribunals and CommissionsDivision Bench(2022) 02 NCLAT CK 0273

Union Of India vs Infrastructure Leasing And Financial Services Ltd. & Ors.

National Company Law Appellate Tribunal, New Delhi · Decided on 24 February 2022

HON’BLE JUDGES
Ashok Bhushan, Chairperson · Dr. Alok Srivastava, Member (Technical)
CASE NUMBER
Comp. App. (AT) No. 346 of 2018 & I.A. No. 2195, 2196, 2262, 2264, 2966, 2330, 2331, 2332, & 2333 of 2020, I.A. No. 888, 889, 2404, 2505 of 2021

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Judgment

40 paragraphs · 778 words

ORDER

I.A No. 2195 of 2020

We have heard Shri Ramji Srinivasan, Learned Senior Counsel for IL&FS, Shri Nakul Dewan, Learned Counsel for ‘HDFC Bank Ltd.’ and Shri Arun Kathpalia, Learned Senior Counsel for ‘Housing Development Financial Corporation Ltd.’.

2.

I.A No. 2195 of 2020 has been filed by IL&FS seeking impleadment of ‘HDFC Bank Ltd.’ and ‘Housing Development Financial Corporation Ltd.’ as party Respondents.

3.

Let ‘HDFC Bank Ltd.’ and ‘Housing Development Financial Corporation Ltd.’ be impleaded as Respondent Nos. 17 and 18 in Company Appeal (AT) No.346 of 2018. Application I.A No. 2195 of 2020 is allowed accordingly.

4.

We make it clear that all contentions of the parties are left open which they have to make regarding lis between the parties.

I.A No. 2196 of 2020

5.

By this Application, the Applicant- IL&FS has prayed for issue of certain directions against the ‘HDFC Bank Ltd.’ as well as ‘Housing Development Financial Corporation Ltd.’

6.

Issue Notice. Shri Nakul Dewan, Learned Counsel appears for ‘HDFC Bank Ltd.’ and Shri Arun Kathpalia, Learned Senior Counsel appears for ‘Housing Development Financial Corporation Ltd.’. They are allowed two weeks’ time to file Reply to the Application. Rejoinder, if any, may be filed within two weeks thereafter.

List this Application on 07.04.2022.

I.A No. 2262 & 2264 of 2020

7.

These Applications have been filed by ‘Housing Development Finance Corporation Ltd.’ as well as ‘HDFC Bank Ltd.’ challenging the orders dated 12.05.2020 as well as 03.07.2020 passed by Hon’ble Justice D.K. Jain.

8.

Shri Ramji Srinivasan, Learned Senior Counsel appearing for IL&FS prays for and is allowed two weeks’ time to file Reply. Applicants may file Rejoinder within two weeks’ thereafter.

Let these Applications be listed on 07.04.2022.

I.A No. 2966 of 2020

9.

I.A No. 2966 of 2020 has been filed by ‘Housing Development Finance Corporation Ltd.’ for restraining of sale of property being The IL&FS Financial Center, situated at Plot No.22, G Block, Bandra Kurla Complex, Bandra East, Mumbai- 400 051.

10.

Shri Ramji Srinivasan, Learned Senior Counsel appears for Respondent to the Application. He prays for and is allowed two weeks’ time to file Reply. Rejoinder, if any, may be filed within two weeks’ thereafter.

List this I.A on 07.04.2022.

I.A No. 2330, 2331, 2332 & 2333 of 2020

11.

These I.As have been filed by ‘HDFC Bank Limited’ challenging the order dated 03.07.2020 passed by the Hon’ble Justice (Retd.) D.K. Jain.

12.

Shri Ramji Srinivasan, Learned Senior Counsel appears for Respondent to the Application. He prays for and is allowed two weeks’ time to file Reply. Rejoinder, if any, may be filed within two weeks’ thereafter.

List these I.As on 27.04.2022.

I.A No. 888 of 2021

13.

This Application has been filed by ‘IL&FS Securities Services Ltd.’ Praying for impleadment of ‘IL&FS Securities Services Ltd.’ and ‘NSE Clearing Limited’ as party Respondents in Company Appeal (AT) No.346 of 2018.

14.

Learned Counsel for the Applicant submits that pleading is complete in the Application and Reply has already been filed.

15.

Let ‘IL&FS Securities Services Ltd.’ and ‘NSE Clearing Limited’ be impleaded as Respondent Nos. 19 and 20 in the Company Appeal (AT) No. 346 of 2018.

List this I.A on 22.04.2022.

I.A No. 889 of 2021

16.

This Application has been filed by ‘IL&FS Securities Services Ltd.’ seeking several prayers.

17.

Learned Counsel appearing for NSE Clearing Limited’ submits that he has already filed Reply and pleadings are complete.

18.

Let this Application be listed on 22.04.2022.

I.A No. 2404 of 2021

19.

Diary No. 33181 of 2022 has been filed by Union of India praying for interim distribution. Hard copy of the Application has already been filed which has not yet been numbered. Let Registry number the Application.

20.

Shri Dhruv Mehta, Learned Senior Counsel submits that he has already filed objection to the Application Diary No. 33181 of 2022. Let the objection be listed along with I.A Nos. 2404, 1982, 1849.

List these Applications on 02.03.2022 for direction.

I.A No. 2505 of 2021

21.

Shri Arun Kathpalia, Learned Senior Counsel appearing for HDFC Bank Limited prays for and is allowed two weeks’ time to file Reply. Rejoinder, if any, may be filed before the date fixed.

22.

Let this Application be listed on 07.04.2022.

IAs in the list submitted by Shri Raunak Dhillon from Item Nos. 11 to 21 be also listed on 02.03.2022 for direction.

Shri Ramji Srinivasan, Learned Senior Counsel seeks liberty to file an I.A with regard to different matters which are pending in NCLT which are required to be disposed of to complete the Resolution. Let I.A be filed within three days which may be listed on 02.03.2022 for direction.