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NATIONAL COMPANY LAW TRIBUNAL
jammu & kashmir bank ltd – Appellant
Versus
pan india utilities distribution co. ltd – Respondent
C.P. (IB) - 990/2019
NATIONAL COMPANY LAW TRIBUNAL COURT-I, MUMBAI BENCH Item 4 IA 2428/2023 IN C.P. (IB)/990(MB)2019 CORAM:
MS. ANU JAGMOHAN SINGH SHRI H.V. SUBBA RAO HON’BLE MEMBER (T) HON’BLE MEMBER(J)
ORDER SHEET OF THE HEARING ON 13.06.2023 NAME OF THE PARTIES: - Jammu & Kashmir Bank Ltd.
VS PAN India Utilities Distribution Co. Ltd IBC under Sec 7 Rule 154 (1)
___________________________________________________________________________
ORDER
Ms. Shaila Taware Ld. Counsel appearing for the applicant in IA 2428/2023 is present.
IA 2428 of 2023:
1. The present Interlocutory Application is filed under Rule 154 of NCLT Rules 2016 for rectification of Order dated 24.04.2023. The Ld. Counsel appearing for the Applicant pointed out that there are typographical errors in the order dated 24.04.2023 which are enumerated here below:
Sr. No.
Para No./ Page No.
Matter to be Rectified
Correct Position
Remarks
1
1
Appearances of the Applicants
Mr. Devarajan Raman A/R for Liquidator & Mr. Hemant Mehta Liquidator of Pan India Utilities Distribution Co. Ltd.
-
2
Para 4 (g)/ Page 4
I.A No. 1122 of 2021 is yet to be heard and decided by this Tribunal.
I.A. No. 1122 of 2021 already disposed of vide order dated 21.02.2023
A copy of order dated 21.02.2023 is annexed to present Application and marked as Annexure - II.
3
Sr. No. 4 on Page No. 6 in Table
Distribution Details are missed out
To add the details mentioned in Ann. III.
The revised table is attached to present Application and marked as Annexure-III.
4
Sr. No. 6 on Page No. 6 in Table
Sr. No. 6 (d) is incorrectly added
To be deleted
-
2. In view of the above correct position, submissions advanced as above are found substantiated and we thus found it necessary to correct the above typographical errors to the extent here below rest of the order shall be remain un-altered.
i. The Appearances of the Applicants be read as “Mr. Devarajan Raman A/R for Liquidator & Mr. Hemant Mehta Liquidator of Pan India Utilities Distribution Co. Ltd.
ii. Para 4 (g) page 4 be read as “I.A. No. 1122 of 2021 already disposed of vide order dated 21.02.2023” instead “…..I.A No.
1122 of 2021 iii. is yet to be heard and decided by this Tribunal…..”.
iv. Revised Table is as follows:
SI. No.
Stakeholders Under Section 53(1)
Amount Claimed
Amount Admitted
Amount Distribute d
Amount Distributed to the Amount Claimed (%)
Remarks
(1)
(2)
(3)
(4)
(5)
(6)
(7)
1
(a): CIRP Costs 38,68,961
(b): Liquidations Costs
20,78,562
3
(b) (i)
4
(b) (i) Total Distribution Yes Bank
3,312,774,666
3,311,734,047
1,47,77,353
0.446%
J& K Bank
870,671,444
869,618,582
38,80,813
0.446%
Sales Tax Department
40,73,44,434
40,73,44,434
3,39,181
0.083%
Commercial Tax Department
7,80,95,739
7,80,95,739
65,027
0.083%
5
(c)
6
(d)
7
(e)(i)
8
(e)(ii)
9
(f)
10
(g)
11
(h)
Total
4,668,886,283
4,66,67,92,802
1,90,62,374
1.058%
3. It is further submitted that at the time of filling Form- H the CIRP costs is erroneously typed as Rs. 39,63,361/- instead of Rs. 38,68,961/- hence, the same is being typographical error CIRP Costs be read as Rs.
38,68,961/-
4. Office is directed to effect the corrections as above in the original order and the order be uploaded on the server. Rest of the order shall remain un-
altered.
Sd/- Sd/-
ANU JAGMOHAN SINGH H.V. SUBBA RAO Member (Technical) Member (Judicial)
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