SL. No.16

NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH 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 03.04.2024 AT 10:30 AM

TRANSFER PETITION NO.

IA (IBC)/1853/2023, IA (IBC)/1584/2023, IA

COMPANY PETITION/APPLICATION NO. (IBC)/1635/2023, IA (IBC)/1741/2023 in Company

Petition IB/308/2022

NAME OF THE COMPANY Gayatri Projects Ltd

NAME OF THE PETITIONER(S) State Bank of India

NAME OF THE RESPONDENT(S) Gayatri Projects Ltd

UNDER SECTION 7 of IBC

ORDER

IA (IBC)/1853/2023

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

is dismissed.

IA (IBC)/1584/2023 and IA (IBC)/1741/2023

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

is disposed of.

Consequently, all adjustments made by MEIL are illegal and in violation of law and MEIL shall be obliged to refund such amounts, notwithstanding that these amounts have already been disbursed to the Statutory Authorities, who have not

been impleaded as parties.

This order does not restrict the right of MEIL to claim any dues from the CD and any such claims shall be submitted to the Resolution Professional in accordance

with the provisions of IBC.

IA (IBC)/1653/2023

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

is dismissed.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva

IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH-II IA.No.1584 of 2023 in [Under Section 60(5) of the Insolvency and Bankruptcy Code, R/W Rule 11 of the National Company Law Tribunal Rules, 2016]

In the matter of M/s CIRP of M/s Gayatri Projects Limited Between:

M/s.GuruRaghavendra Infrastructures, @ (GRI) (A Partnership Firm), having its Registered office at 2-293/82/C/16/A, Plot # 16, Road No. 07, Jubilee Hills, Hyderabad-500033, Telangana.

Represented by its Managing Partner Mr. D.V. Krishna Reddy.

…Applicant And

1. Sai Ramesh Kanuparthy, (RP), Resolution Professional Gayatri Projects Limited, (in CIRP) having its registered Office at 6-3-1090, TSR Towers, Rajbhavan Road, Somajiguda, Hyderabad-500016, India.

2. Superintendent Engineer, (Employer)

Indira Sagar Right Main Canal Circle, Eluru, West Godavari District, AP.

3. M/s.MEIL-GAYATRI-ZVS-ITT, (Consortium)

(A Joint Venture unincorporated Company)

S-2, Technocrat Industrial Estate, Balanagar, Hyderabad-500037.

…Respondents Coram:

Hon’ble Rajeev Bhardwaj, Member (Judicial)

Hon’ble Sanjay Puri, Member (Technical)

Counsel/Parties present For the Applicant : Mr. P. Pratap Kumar, Advocate For the Respondent No.1 : Mr. Ravi Kumar, Advocate For the Respondent No.2 : Mrs. JVL Bharati, Advocate Per: [Rajeev Bhardwaj, Member (Judicial)]

ORDER

1. The instant application has been filed under section 60(5) of the Insolvency and Bankruptcy Code read with Rule 11 of the National Company Law Tribunal Rules, 2016 seeking number of directions to the Respondents as how the amount released by the Respondent No.2 in the account of Respondent No.3is to be disbursed etc.

2. Brief facts, necessary to dispose of the present application, as stated, are that:

2.1 The Respondent No.2 awarded the contract of Package No.1 of “CHINTALAPUDI LIFT IRRIGATION SCHEME to a Consortium of M/s. MEIL-GAYATRI-ZVS-ITT, Respondent No.2 vide letter no.SE/ISMRMC/DB/TO/ATO/CHLIS-1/128M dated 25.02.2009. Before the award of the contract, the members of the Consortium, M/s. MEIL-GAYATRI-ZVS-ITT entered into an agreement on 28.01.2009, defining their sharing ratio and scope of work. Another supplemental consortium agreement was executed on 25.02.2009 among the four members containing terms and conditions and their respective roles and scope of works. The Respondent No.2 further awarded two additional works to the Respondent No.3.

2.2 Regarding the additional work, it was agreed that the Respondent No.1 shall execute the work, value of which was Rs.1843.60 Crores.

2.