1. This application is taken out by Kotak Mahindra Bank Limited as assignee of State Bank of India to recall the order dated 3rd December 2014 in Notice of Motion No. 52 of 2014 by which the Hon’ble Court was pleased to annul under Section 21(1) of the Presidency Town Insolvency At, 1909 (Insolvency Act), the order of adjudication dated 22nd April 2010 passed against Akshay D. Thakkar (Insolvent).

2. The reason why applicant wants this order to be recalled is because on 3rd December 2014 when the order of annulment was passed, to the knowledge of the insolvent and to the knowledge of the official assignee, there was an order and judgment passed by the Debt Recovery Tribunal on 20th May 2009 against the insolvent to pay to applicant a sum of Rs.9,60,97,800.69 with simple interest @ 8% per annum from the date of filing till realization along with costs and charges. Applicant to the application and both insolvent and official assignee were also aware that recovery proceedings have been initiated against the insolvent and even two properties belonging to the insolvent had been attached. Applicant also states that the insolvent has also filed an application to set aside/vacate