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NATIONAL COMPANY LAW TRIBUNAL
HARNAM SINGH THAKUR, SUBRATA KUMAR DASH, JJ
TBEA Energy India Private Limited – Appellant
Versus
M/s. Isolux Corsan India Engineering and Construction Private Limited – Respondent
| Table of Content |
|---|
| 1. arguments regarding the claims on the escrow account. (Para 4 , 5) |
| 2. clarification of procedural issues raised by parties. (Para 6) |
| 3. hdfc's obligations as escrow agent. (Para 8) |
| 4. arguments from tbea regarding escrow account handling. (Para 10) |
| 5. application filed for additional submissions. (Para 11) |
ORDER
CA Nos. 552/2019 and 555/2019 are applications filed by the Corporate Debtor (M/s. Isolux Corsan India Engineering and Construction Private Limited,) and the EPC contractor (TBEA), with both laying claim on the amount lying in the Escrow account maintained with the HDFC Bank. Subsequently, IA No. 1002/2023 was filed to place on record certain facts connected with the aforementioned two applications These applications, being interconnected, are taken up together for discussion.
CA No.552/2019, 555/2019 &
IA No. 1002/2023 CA No. 552/2019
2. The instant Application has been filed u/s 60(5) of the Insolvency and Bankruptcy Code (Hereinafter referred to as “the Code”) read with Rule 11 of the National Company Law Tribunal Rules, 2016, seeking the declaration from this Tribunal that the applicant, i.e, TBEA (Hereinafter referred to as “TBEA”), be allowed to receive the
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