SL. No.10

NATIONAL COMPANY LAW TRIBUNAL

COURT HALL NO: II

Hearing Through: VC and Physical (Hybrid) Mode

CORAM: SHRI. RAJEEV BHARDWAJ – HON’BLE MEMBER (J)

CORAM: SHRI. SANJAY PURI - HON’BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL,

HYDERABAD BENCH, HELD ON 05.02.2025 at 10:30 AM

TRANSFER PETITION NO.

COMPANY PETITION/APPLICATION NO. IA (IBC)/1286/2023 in CP(IB) No.294/7/HDB/2017

NAME OF THE COMPANY IVRCL Limited

NAME OF THE PETITIONER(S) State Bank of India

NAME OF THE RESPONDENT(S) IVRCL Limited

UNDER SECTION 7 OF IBC

ORDER

IA (IBC)/1286/2023

Present: Mr. Dammalapati Srinivas, Ld. Senior Counsel along with Mr. Vimal

Vasi Reddy, Ld. Counsel for the Applicant.

Mr. Nirav Shah, Mr. Alay Razi and Ms. Shradha Gupta, Ld. Counsels

for the Respondent No.1/Liquidator.

Mr. Pushyam Kiran, Ld. Counsel for the Respondent No.2.

Heard. Reserved for orders.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva

SL. No.1 NATIONAL COMPANY LAW TRIBUNAL COURT HALL NO: II Hearing Through: VC and Physical (Hybrid) Mode CORAM: SHRI. RAJEEV BHARDWAJ – HON’BLE MEMBER (J)

CORAM: SHRI. SANJAY PURI - HON’BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL, HYDERABAD BENCH, HELD ON 05.02.2025 at 10:30 AM TRANSFER PETITION NO.

IA (IBC)/357/2023 and IA (IBC)/1314/2023 COMPANY PETITION/APPLICATION NO.

CP (IB) No. 294/7/HDB/2017 NAME OF THE COMPANY IVRCL Limited NAME OF THE PETITIONER(S) State Bank of India NAME OF THE RESPONDENT(S) IVRCL Limited UNDER SECTION 7 OF IBC

ORDER

IA (IBC)/357/2023 Orders pronounced, recorded vide separate sheets. In the result, this application is dismissed.

IA (IBC)/1314/2023 Orders pronounced, recorded vide separate sheets. In the result, the Liquidator’s action to cancel the sale of the CD to the Applicant is legally justified and procedurally correct. However, there are certain observations in the order.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva IN THE NATIONAL COMPANY LAW TRIBUNAL Between M/s Raghava Square Private Limited, Successful Bidder of IVRCL Limited, H.No.8-20603/1/27 & 28, Krishnapuram Street, Road No.10, Banjara Hills, Hyderabad – 500 034.

….Applicant And

1. M/s IVRCL Limited, Rep. by the Chairman of the Supervisory Committee, Mr Sutanu Sinha – Liquidator, M-22/3RT, Vijayanagar Colony, Hyderabad – 500 057.

....Respondent/Corporate Debtor

2. Mr. Sutanu Sinha, Chairman of Supervisory Committee-

cum-Liquidator, Mihir, 8-2-350/5/a/24/1B, Road 2, Panchavati Colony, Banjara Hills, Hyderabad – 500 034.

....Respondent/Liquidator

3. ICICI Bank, ICICI Bank Towers, Financial District, Plot No 12, Nanakramguda, Gachibowli, Hyderabad – 500 032.

4. Union Bank of India (erstwhile Andhra Bank, Corporation Bank & UBOI), 23, 4-5-1, Koti Women’s College Road, Sultan Bazar, Kachiguda, Hyderabad – 500 195.

5. IDBI Bank, IDBI Towers, WTC Complex, Cuffe Parade, Mumbai – 400 005.

6. Canara Bank, 2^nd Floor, T Subba Rami Reddy Complex, 1-7-1, SP Road, Secunderabad.

7. State Bank of India Stressed assets management branch

5-9-76, 2nd Floor, Prabhat Towers, Opp – SBI Amaravathi LHO, Chapel Road, Gunfoundry, Hyderabad – 500 001.

8. IndusInd Bank, Ashoka Janardhan Chambers, 1-10-72, Begumpet Road, Old Patigadda, Patel Nagar, Begumpet, Hyderabad – 500 016.

9. International Asset Reconstruction Co (IARC), A-506 & 508, 5^th Floor, 215 Atrium, Kanakia Spaces, Andheri Kurla Road, Andheri East – 400 093.

10. Standard Chartered Bank, 4^th Floor, Parinee Crescenzo, BKC, Bandra, East Mumbai.

11. Indian Overseas Bank, Street Number 8, Viveka Nagar, Chikkadpally, New Nallakunta, Hyderabad – 500 020.

12. TATA Capital, Tata Capital Financial Services Ltd, Auto Plaza, Plot No.3-6, Opp. Times of India, Road No.3, Banjara Hills, Hyderabad – 500 034.

13. Bank of India, Ground Floor 28, SV Road, Sahayog Society, Munshi Nagar, Andheri West, Mumbai – 400 058.

14. Emirates Islamic Bank Dubai Dubai Healthcare City, 16th Executive Building, 2nd Floor, Po Box 6564, Dubai.

15. Life Insurance Corporation of India, Yogakshema, 2nd Floor, East Wing, JB Marg, Na