Jayant Nath, J.

CA Nos.741-742/2018

1. CA No.741/2018 is filed by the UCO Bank seeking to implead the UCO Bank as a party in the present company petition. CA No.742/2018 is also filed by the UCO Bank seeking transfer of this petition under section 434 of the Companies Act, 1956 to the NCLT.

2. The learned counsel appearing for the applicant/UCO Bank states that they come to know about the pendency of the present petition on 23.05.2018 during the pendency of the proceedings filed by the UCO Bank before the NCLT under the Insolvency Code. It is pleaded that the respondent company was enjoying several credit facilities from different banks. There is a consortium of banks whereby the UCO Bank has taken over as the Lead Bank in terms of Letter of Authority of the consortium member dated 21.05.2007. The respondent company is said to owe about Rs.200 crores plus interest to UCO Bank and the consortium banks in all have to recover about Rs.800 crores plus interest from the respondent company. It has also been pleaded that the only immoveable assets/properties available with the respondent company is Factory Land and Building at Moradabad Road, Kashipur, District Rudrapur, Uttarakhan