S.No.2

IN THE NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH – 1

VC AND PHYSCIAL (HYBRID) MODE

ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

21-03-2024 AT 10:30 AM

CP (IB) 497/7/HDB/2018

And

IA (IBC) 438, 454/2022, IA (IBC) 687/2021 in IA No. 625/2021, IA (IBC) 512/2021 in

CP (IB) 497/7/HDB/2018

u/s. 7 of IBC, 2016

IN THE MATTER OF:

International Asset Reconstruction Company Pvt Ltd …Financial Creditor

VS

Atlanti Spinning and Weaving Mills Ltd …Corporate Debtor

C O R A M:-

DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, HON’BLE MEMBER (JUDICIAL)

SH. CHARAN SINGH, HON’BLE MEMBER (TECHNICAL)

O R D E R

Learned Counsel Mr VV Siva Kumar, for liquidator,

Smt Sujata Chattopadhyay, Liquidator present through Video Conference.

IA (IBC) 438/2022

Orders pronounced. In the result, this application is dismissed. No costs.

IA (IBC) 452/2022

Orders pronounced. In the result, this application is dismissed. No costs.

IA (IBC) 687/2021 in IA No. 625/2021 & IA (IBC) 454/2022

Learned Counsel Mr Srikanth Hariharan, for applicant present through Video

Conference.

Orders not pronounced. Suo motto re-opened, as clarification required has been

explained to the learned counsels for both sides.

Hence, at request for very brief clarification note, matter adjourned to 26.03.2024. Registry is directed to call for the records in respect of IA No 625/2021from

Capital Record Centre Private Limited.

Swapna

IA (IBC) 512/2021 This is an application filed by liquidator for multiple reliefs and some of the reliefs are common in this IA and IA No 452/2022, which is already disposed of and accordingly some of the relief of this IA are adjudicated in IA No 452/2022. In view of this IA is also disposed of with a liberty to the liquidator to file a fresh application for the remaining reliefs if any.

Accordingly, this application is disposed of.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Swapna IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH - I, HYDERABAD I.A. No.438 /2022 in C.P. (IB) No. 497/7/HDB/2018 IN THE MATTER OF M/s ATLANTIC SPINNING AND WEAVING MILLS LIMITED Between:

Ram Nath Yadav S/o Innuru Yadav Aged about 60 years R/o Azamgarh, Uttar Pradesh Represented through H.S. Shivakumar, Son of H. Siddappa Power of Attorney Holder Aged 44 years R/o No.2987, ‘F’ Block

3^rd Stage, Dattagalli Mysuru.

.. Applicant AND

1. M/s Atlantic Spinning and Weaving Mills Ltd., Having its registered Office at:

No.5, Chenoy Trade Centre

116, Parklane Secunderabad, Telangana – 500 003 Represented by its Liquidator Ms. Sujata Chattopadhyay.

2. Ms. Sujata Chattopadhyay Liquidator of M/s Atlantic Spinning and Weaving Mills Ltd., Office at : 404, Cosmos Mayursh Plot No.37, Sector-11, CBD, Belapur Navi Mumbai – 400 614.

.. Respondents Coram:

Dr.Venkata Ramakrishna Badarinath Nandula Hon’ble Member (Judicial)

Shri Charan Singh Hon’ble Member (Technical)

Counsels present:

For Applicant : Mr. M. V. Pratap Kumar, Advocate.

For respondents : Juris Prime Law Services Date of order:21.03.2024 Per : Bench

O R D E R

This application is filed by the Applicant/ Ram Nath Yadav under Section 66 of the Insolvency and Bankruptcy Code, 2016 prima facie seeking multiple reliefs on different causes of action against respondents as under:

“(1) Declare the action of the 2^nd respondent in mi-stating before this Tribunal concerning the details of the Corporate Debtor, the status of the Directors and its assets, as illegal, unlawful and arbitrary.

(2) Take appropriate action against the 2^nd respondent for mis- stating before this Tribunal concerning the details of the Corporate Debtor, the status of the Directors and its assets.

(3) Direct the 2^nd respondent to produce statutory records of 1^st respondent including minute books and file containing all the resolutions passed so that the 2^nd respondent’s lies can be exposed. (4) Direct the 2^nd respondent to take steps against the Banks to recover Rs.4.38 crores charged as interest during the freezing period along with interest which works out at today’s value to approximate 25.55 crores at interest of 13.50%.

(5) To appoint