NATIONAL COMPANY LAW TRIBUNAL

MUMBAI BENCH, COURT-II

27. MA 1621/2018 IA 2273/2019 MA 1955/2019 IA 5081/2023

IA 2397/2023 IA 2398/2023 in C.P. (IB)/1616(MB)2017

CORAM:

SHRI ANIL RAJ CHELLAN SHRI KULDIP KUMAR KAREER HON’BLE MEMBER (T) HON’BLE MEMBER (J) ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE

NATIONAL COMPANY LAW TRIBUNAL ON 04.06.2024

NAME OF THE PARTIES:- Mr. Pravin R. Navandar Resolution

Professional of Unitech Transformers

Pvt. Ltd.

IN THE MATTER OF

Vellurmadam Harish Gopalkrishnan

V/s

Bharat Cooperative Bank

Section: 60(5) Sec 43(1) r/w Sec 44(1) Sec 66(1) U/s 7 of Insolvency

and Bankruptcy Code, 2016

__________________________________________________________________________________

ORDER

MA 1621 of 2018:- Mr. Devarajan Raman, Resolution Professional present in person through VC. This Application has been filed by the RP seeking approval of the Resolution Plan. However, vide order dated 16.04.2024 passed in IA 222 of 2024, permission has been granted to the RP to re-run the CIRP by issuing a fresh EoI and further extension of 120 days has also been granted to re-run the CIRP. As the Successful Resolution Applicant had backed out from implementing the Resolution Plan, earlier submitted by him, and approved by the CoC, in the light of the order dated 16.04.2024 the instant MA i.e. MA 1621 of 2018 is rendered infructuous. Accordingly, MA 1621 of 2018 is disposed of

having been withdrawn.

IA 2273 of 2019:- Mr. Devarajan Raman, Resolution Professional present in person through VC and Counsel, Chinmay Bhingane appeared for the Respondent. This Application is filed by the RP seeking protection of possession the Corporate Debtor over the premises in question where the registered office of the Corporate Debtor is situated till the CIRP is over. Counsel for the Respondent states at bar that Respondent has no intention to displace the Corporate Debtor from such premises/office. In view of the undertaking given by the Respondent, the present Application become infructuous. Accordingly, IA 2273 of 2019 is disposed of having rendered infructuous.

IA 1955 of 2019:- Mr. Devarajan Raman, Resolution Professional present in person through VC. List this matter on 05.07.2024.

IA 5081 of 2023:- Mr. Devarajan Raman, Resolution Professional present in person through VC. This Application is filed by the RP seeking rectification of the order dated 25.09.2023. It has been pointed out by the RP/Applicant that in the 4th line of the order dated 25.09.2024 it has been inadvertently mentioned “Counsel for the RP” whereas the said contention was “Counsel for the Resolution Applicant” and in the 6^th line of the same very order it has been inadvertently mentioned that “some assets of the Corporate Debtor have been sold” whereas it should be read as “some assets of the Personal Guarantor have been sold”.

Having considered the submissions made by the Counsel for the Applicant and averments made in the present Application, this bench observed that since the above rectifications sought by the RP are a result of typographical error, therefore, the same can be allowed. Accordingly, in the 4^th line of the order dated 25.09.2024 the words “Counsel for the RP” should be read as “Counsel for the Resolution Applicant” and in the 6^th line of the same very order the words “some assets of the Corporate Debtor have been sold” should be read as “some assets of the Personal Guarantor have been sold”, the rest of the order shall remain unchanged. Accordingly, IA 5081 of 2023 is allowed and disposed of.

IA 2397 of 2023 and IA 2398 of 2023:- Mr. Devarajan Raman, Resolution Professional present in person through VC and Counsel, Amir Arsiwala appeared for the Respondent. List these Applications on

05.07.2024.

Sd/- Sd/-

ANIL RAJ CHELLAN KULDIP KUMAR KAREER Member (Technical) Member (Judicial)

ANKIT