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

I.A. No. 593/2019, I.A. No. 3856/2019, I.A. No. 363/2019, I.A. No. 817-818 of 2021, I.A. No. 2108 of 2021, I.A. No. 924 of 2022, I.A. No. 2424 of 2022, I.A. No. 3115 of 2022, I.A. No. 427 of 2022, I.A. No. 429 of 2022, I.A. No. 586 of 2022, I.A. No. 645 of 2022, I.A. No. 3499 of 2022, I.A. No. 845 of 2022, I.A. No. 296 of 2022 and I.A. No. 1709 of 2022, list all these I.As on 19^th January, 2023 at 02:00 PM.

I.A. No. 735 of 2019: This Application has been filed by Kudremukh Iron Ore Company Employees Provident Fund Trust. It is submitted that the trust has subscribed to the debentures of the IL&FS for an amount of Rs. 3 Crores which is going to be matured on 30^th December, 2022. We permit the Applicant-Kudremukh Iron Ore Company Employees Provident Fund Trust to intervene in this Appeal. I.A. No. 735 of 2019 is allowed.

I.A. No. 182 & 185 of 2020 These applications have been filed by SREI Infrastructure Finance Limited on 10.01.2020 where Applicant has prayed for direction to approve the Resolution Plan submitted by the Applicant with respect to two of its group companies namely Gujarat Integrated Maritime Complex Pvt. Ltd. and Seeland Ports Pvt. Ltd. Learned Counsel appearing for the IL&FS-Mr. Raunak Dhillon submits that SREI itself is an insolvent by an order passed on 08^th October, 2021. In view of the aforesaid, we see no reason to keep these applications pending. Applications I.A. No. 182 & 185 of 2020 are closed.

I.A. 2966 of 2020 in Company Appeal (AT) No. 177 of 2022: As prayed by Mr. Raunak Dhillon, list this I.A. as well as C.A. (AT) No. 177 of 2022 on 19^th January, 2023. Interim Order shall continue passed in Company Appeal (AT) No. 177 of 2022.

I.A. No. 2074-2075 of 2020: These Applications have been filed by the Central Bank of India praying for following reliefs:

I.A. No. 1796 of 2020: This Application has been filed by the National Highway Infrastructure Development Corporation Limited where direction has been issued to permit the applicant to invoke the Bank Guarantee dated 02.02.2018 issued by the Allahabad Bank (Now Indian Bank) and the Punjab and Sindh Bank. Further direction has been sought to keep alive the validity of the Bank Guarantee of both the bank guarantees. Learned Counsel for the IL&FS-Mr. Raunak Dhillon submits that in so far as the invocation of the Bank Guarantee, which same prohibited by order dated 15.10.2018 as confirmed by Order dated 12^th March, 2020. In so far as the extension of the Bank Guarantee, appropriate direction be issued to keep alive the validity of the Bank Guarantee. We thus direct the concerned Bank to extend the validity of Bank Guarantee for a period of six months from today. Learned Counsel for the Respondent submits that he disputes the quantum as claimed in the Application. We need not enter into such issue at this stage. Application is disposed of, accordingly.

I.A. No. 1628 of 2020: This Application has been filed by the National Highway Authority of India praying for encashment in alternative for extension of the Bank Guarantee issued by the Central Bank of India-Insurer of the Applicant. In view of the order passed by this Tribunal in this Appeal, prayer for encashment cannot be accepted as on date however let the Bank Guarantee be extended for a period of six months from today by the concerned bank. Application is disposed of, accordingly.

I.A. No. 1815, 1816, 1820 of 2021: List these applications on 19^th January, 2023. Learned Counsel appearing for GAIL India Limited seeks liberty and allowed two weeks time to file “Additional Affidavit” in the applications.

I.A. No. 2104 of 2021: This Application has been filed by Applicant (Mr. Laltendu) questioning the rejection of their claim by Claims Management Advisor. Learned Counsel for the Applicant submits that claims management advisor has sent a communication stating that the claim of the applicant requires adjudication and same need to be brought before the Court of Competent Jurisdiction. In the Application, an Email dated 19.10.2020 has been quoted in paragraph 17 of the Application. In view of the aforesaid, we are of the view that Applicant is at liberty to file Application before the Adjudicating Authority for consideration of the claim which may be considered and disposed of by the Adjudicating Authority in accordance with law. With these observations, the Application is disposed of.

I.A. No. 2412 of 2021: This Application filed by the Central Bank of India makes only prayer for listing the I.A. No. 2074 of 2020 and 2075 of 2020 for intervention at an early date. These Applications I.A. No. 2074 of 2020 and I.A. No. 2075 of 2020 having already been listed, this Application becomes infructuous. I.A. No. 2412 of 2021 is dismissed as infructuous.

I.A. No. 2903 of 2021: I.A. No. 185 of 2020 having been disposed of by the order of this date, I.A. No. 2903 of 2021 has become infructuous and is dismissed as infructuous.

I.A. 2404 of 2021: Learned Counsel for the IL&FS submits that this Application has become infructuous. I.A. No. 2404 of 2021 is dismissed as infructuous.

I.A. 785-786 of 2021: These are applications seeking condonation of 49 days delay in refiling I.A. No. 785 of 2021. Sufficient cause has been shown to condone the refiling delay in I.A. No. 785 of 2021. I.A. No. 786 of 2021 is disposed of. I.A. No. 785 of 2021 be listed on 19^th January, 2023.

I.A. No. 336 of 2022: This is an Application filed by the Kandla Special Economic Zone, Gandhidham, Kuchh, Gujarat praying for intervention in C.A. (AT) No. 346 of 2018. For the reasons given in application, we permit the applicant to intervene in C.A. (AT) No. 346 of 2018. I.A. No. 336 of 2022 is disposed of, accordingly.

I.A. No. 345 of 2022: Learned Counsel for the Applicant submits that orders have already been passed in Application filed by the Applicant for directions. In view of the above, this Application I.A. No. 345 of 2022 became infructuous and is dismissed as infructuous.

I.A. No. 430 of 2022: Learned Counsel for the Applicant submits that I.A. No. 430 of 2022 has become infructuous due to order passed on 31^st May, 2022 in I.A. No. 586 of 2022 in C.A.(AT) No. 346 of 2018. In view of the above, this application is dismissed as infructuous.

I.A. 706 of 2022: This Application has been filed by Mr. Prakasarao V.S. Yadavilli praying for direction to M/s Grant Thornton, the claims management advisor of IL&FS to accept the claim of the applicant in entirety. Applicant case is that the claim was submitted in response to which email was sent by the claims management advisor on 09.10.2020 that claim need to be brought before the court of competent jurisdiction for adjudication. In view of the above, we grant liberty to applicant to file application before the adjudicating authority for consideration of its claim. I.A. No. 706 of 2022 is disposed of accordingly.

I.A. No. 762 of 2022: Learned Counsel for the Applicant may serve copy of this application to Learned Counsel for the Union of India and IL&FS. Learned Counsel for the Respondents are allowed two weeks’ time to file Reply-Affidavits. Rejoinder, if any, may be filed before the date fixed. List this Application on 19^th January, 2023.

I.A. No. 1745 of 2022: This Application has been filed by the Applicant-East India Udyog Limited claiming to be an operational creditor of IL&FS Engineering and Construction Company Limited. We permit the Applicant to intervene in the matter. I.A. No. 1745 of 2022 for intervention is allowed.

I.A. No. 4009 of 2022: This Application has been filed by the ICICI Bank Limited seeking for appropriation of amount laying in the current account of IL&FS Engineering and Construction Company Limited. Learned Counsel appearing for the IL&FS may file Reply within two weeks. Rejoinder may be filed within one week, thereafter. List this Application on 19^th January, 2023.

I.A. No. 4526 of 2022: This is an Application filed by the National Highway Authority of India praying for invocation of the Bank Guarantee and further direction to keep the Bank Guarantee alive. Let reply be filed within three weeks by the IL&FS. List this Application on 19^th January, 2023.

I.A. No. 557 of 2022: List this Application on 19^th January, 2023. Interim Order to continue.

I.A. No. 3579 of 2022: This is an application filed by the Home-Buyers seeking direction to hand over the flats by the IL&FS. Learned Counsel for the IL&FS seeks time to obtain instruction. He may file an Affidavit in this regard within three weeks. Learned Counsel for the State Bank of India is permitted to file physical copy of the Reply and serve on the Applicant as well.

I.A. No. 3499 of 2022: Learned Counsel for the Applicant may serve the copy of the Application on the Learned Counsel appearing for the Axis Bank. List this Application on 19^th January, 2023.

Although we have disposed of several applications today but still there are different I.A.s filed in the IL&FS group. These matters pertain to year 2019, 2020, 2021 & 2022.

Mr. Raunak Dhillon, Learned Counsel appearing for the IL&FS submits that details of 86 applications have already been received from the different applicants and a chart giving the details of the applications has already been prepared.

There being several applications, we request Mr. Raunak Dhillon to prepare details of all applications year wise. It is needless to say that for those applications whose chart is prepared it need not be prepared again.

It shall also be open for the Learned Counsel for the IL&FS as well as Union of India to obtain copy of the applications either from the applicants or the Registry, all those applications which have not been served on the IL&FS and Union of India may be done within two weeks from today.

Pleadings in the applications which are not yet completed may be completed before the date fixed.

Reply-Affidavits relating to any above listed applications, if any, may be filed within three weeks. Rejoinder, if any, may be filed, before the date fixed. List these applications on 19^th and 20^th January, 2023 at 02.00 P.M.