ORDER

Pronounced on 28.03.2024 (Hybrid Mode)

[Per: Justice Sharad Kumar Sharma; Member (Judicial)] :

1) Briefly, stated facts are that the Appellant herein, in this Company Appeal preferred under Section 61 of the Insolvency and Bankruptcy Code, 2016 (herein after to be called as ‘Code of 2016’), pleads his grievances as against the Impugned Order dated 19.04.2022 as it has been rendered by the Learned Adjudicating Authority, Hyderabad Bench in CP(IB) No. 493/9/HDB/2018, consequential by virtue of the Impugned Order rendered the Application preferred by the Respondent/Operational Creditor under Section 9 of the Code of 2016 has been admitted, to be proceeded with further as per law.

2) The Appellant who claims himself as to be the Shareholder, Promoter and erstwhile Director of M/s Bevcon Wayors Pvt. Ltd., the Corporate Debtor. He has submitted that initially in the year of 2012, the Corporate Debtor, Operational Creditor and a Company called as M/s. GTL Limited had entered into Consortium Agreement dated 10.04.2012, which was later further sought to be qualified by Addendum Consortium Agreement dated 11.04.2012. It was submitted, that a tender was awarded by one M/s. GVK Coal (Tokis