SL. No. 2

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 06.01.2025 at 10:30 AM

TRANSFER PETITION NO.

COMPANY PETITION/APPLICATION NO. IA (IBC)/1074/2023 in CP (IB) No. 43/7/HDB/2018 NAME OF THE COMPANY Leo Meridian Infrastructure Projects & Hotels Ltd

NAME OF THE PETITIONER(S) Andhra Bank

NAME OF THE RESPONDENT(S) Leo Meridian Infrastructure Projects & Hotels Ltd

UNDER SECTION 7 of IBC

ORDER

IA(IBC)/1074/2023

Orders pronounced recorded vide separate sheets. In the result, this application

is dismissed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Vamsi

IN THE NATIONAL COMPANY LAW TRIBUNAL CP(IB) No.43/07/HDB/2018 In the matter of:

M/S LEO MERIDIAN HOTELS AND INFRASTRUCTURE LIMITED, CORPORATE DEBTOR Between M/s HIL Limited, Premises Nos. 1 & 2, L7 Floor, SLN Terminus, Gachibowli, Hyderabad – 500 032.

….Applicant And Mr Krishna Mohan Gollamudi, (erstwhile) Resolution Professional for M/s Leo Meridian Hotels and Infrastructure Ltd, 1-1-380/38, Ashok Nagar Extension, Hyderabad – 500 020.

….Respondent Date of order : 06.01.2025 CORAM Sri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Sri Sanjay Puri, Hon’ble Member (Technical)

Counsel present For the Applicant : Ms Vaishnavi Ambadipudi For the Respondent : Mr Devendra Prasad, Resolution Professional Ms Neha Shivhare Per : Sanjay Puri, Member (Technical)

O R D E R

1. This application seeks to direct the Respondent, the Resolution Professional (RP) herein to consider the Applicant’s claim of Rs 42,41,169 as an Operational Creditor of the Corporate Debtor (CD). The CD was admitted into CIRP¹ by this Tribunal order² dated 09.04.2019 and a Resolution Professional (RP) was appointed in due course. Application

2. The Applicant herein claims to have supplied AAC blocks against various purchase orders³ starting from 12.07.2010, and submitted corresponding invoices to the CD. The CD also admitted the debt vide letter⁴ dated 31.10.2012 and agreed to pay immediately as per the terms of the purchase order. Subsequently, the CD issued two cheques which got dishonoured upon presentation.

3. As the CD failed to repay the debt owed, the Applicant filed O.S.No.459 of 2015 before the X Additional Chief Judge, City Civil Court, Hyderabad. It is averred that, though the CD was admitted into CIRP, the CD/RP failed to report the same before the said Court until 2022. Later, upon filing of memos informing the status of the proceedings before this Tribunal, on 29.03.2023 the City Civil Court recorded that the moratorium on the CD passed by this Tribunal was in force. At that stage, the Applicant based on the

1 Corporate Insolvency Resolution Process

2 Pages 19 to 35 of the counter Pages 26 to 307 of the application Pages 308 to 376 of the application (correspondence between CD and the Applicant)

information available, sent its initial claim in Form-B to Mr B Naga Bhushan, RP through Speed Post. In response to the same, RP vide his email 17.02.2023 informed that he is no longer associated with CIRP of the CD. Thereafter, the Applicant sent its claim⁵ to the Respondent herein. However, vide communication⁶ dated 29.05.2023, the Respondent RP rejected the claim of the Applicant on the ground that the same was time barred.

4. It is submitted that, the Applicant was bona-fidely pursuing its remedy before the City Civil Court and as the matter was being posted for trial and was regularly taking up by the said Court, the entire period until which the proceedings continuing before the City Civil Court, ought to be excluded for the purpose of filing of Form-B.

5. With the above submissions, sought to direct the Respondent RP to consider the Applicant’s claim of Rs 42,41,169 as an Operational Creditor of the Corporate Debtor (CD).

Reply

6. It is submitted that, initially Mr. Raj Kumar Ralhan was appointed as RP in the main CP