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IA No. 606/AHM/2021
IN CP (IB) 20/AHM/2020
IN THE NATIONAL COMPANY LAW TRIBUNAL
AHMEDABAD (COURT NO. II)
IA No. 606/AHM/2021
IN
CP (IB) 20/AHM/2020
Under Section 14 (1) read with Section 60(5) of the Insolvency and
Bankruptcy Code, 2016.
IN THE MATTER OF
Mr. Anuj Bajpai
Resolution Professional of
Anwesha Engineering & Projects Ltd.
... Applicant
VERSUS
Aditya Birla Finance Ltd.
...Respondent
AND IN THE MATTER OF
Continental Piling & Excavation Pvt. Ltd.
…Financial Creditor
VERSUS
Anwesha Engineering & Projects Ltd.
…Corporate Debtor
Order Pronounced On: 18/04/2022
Coram:
DR. DEEPTI MUKESH,
HON’BLE MEMBER (JUDICIAL)
AJAI DAS MEHROTRA,
HON’BLE MEMBER (TECHNICAL)
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IA No. 606/AHM/2021
IN CP (IB) 20/AHM/2020
MEMO OF PARTIES
IA No. 606/AHM/2021
Mr. Anuj Bajpai
Resolution Professional of
Anwesha Engineering & Projects Ltd.
1006, 10th Floor, Raheja Centre,
Nariman Point, Mumbai-400023
... Applicant
versus
Anwesha Engineering & Projects Ltd.
R-Tech Park, Floor-10, Nirlon Compound,
Near Hub Mall off Western Express Highway,
Goregaon (East) Mumbai- 400063
...Respondent
Present:
For the Applicant: Mr. Rahul Gaikwad, Senior Advocate
For the Respondent: Mr. Ryan Dsouza, Advocate
ORDER
1.
The instant Application is filed by Mr. Anuj Bajpai being Resolution
Professional of the Corporate Debtor Anwesha Engineering & Projects
Ltd. (‘Applicant’) under Section 14 (1) read with Section 60(5) of the
Insolvency and Bankruptcy Code, 2016 (‘Code’) seeking following
directions against one of the Financial Creditor of the Corporate Debtor
Anwesha Engineering & Projects Ltd. (‘Respondent’):
a)
Allow this present Application;
b)
Direct the Respondent to co-operate with the Applicant and
remit, within 7 (seven) days of the order to be passed by this Hon’ble
Tribunal, an amount of Rs. 1,14,71,172.16/- (Rupees One Crore
Fourteen Lakhs Seventy-One Thousand One Hundred Seventy-Two
Sixteen Paise Only) to the Current Account of the Corporate Debtor in
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IA No. 606/AHM/2021
IN CP (IB) 20/AHM/2020
State Bank of India, having A/c Number 40181847348, IFSC Code
SBIN0006945, Dalamal House Branch;
c)
For any other and further Order as this Hon’ble Tribunal may
deem fit.
2. The brief backdrop of the case is that an insolvency application was
filed by financial creditor Continental Piling & Excavation Pvt. Ltd.
under Section 7 of the Code for initiation of Corporate Insolvency
Resolution Process (‘CIRP’) against Corporate Debtor which was
admitted on 25.01.2021 and Mr. Sachin Bhattbhatt was appointed as
Interim Resolution Professional (IRP). Thereafter upon passing of
resolution by CoC, the replacement of Mr. Sachin Bhattbhatt by
Applicant herein Mr. Anuj Bajpai as Resolution Professional was
confirmed vide order dated 22.04.2021.
3. The Applicant Resolution Professional submits that after initiation of
CIRP of the Corporate Debtor, the IRP invited claims though public
announcement on 29.01.2021. The Respondent herein had filed its
claim of Rs. 11,71,96,391/- as a financial creditor which was admitted
by IRP and thereby Respondent became one of the members of CoC. It
is further stated that the Corporate Debtor was maintaining an
investment in a Mutual Fund Scheme namely Aditya Birla Sun Life
Liquid Fund- Growth- Regular Plan, with Folio No. 1036146754 and on
the date of initiation of CIRP there were 22400.483 mutual fund units
amounting to Rs 1.14 crores. On perusal of mutual fund statement, the
Applicant came to know that on 03.02.2021 the Respondent had
processed a third-party payout to the tune of Rs. 1,14,71,172.16/- and
redeemed the entire amount towards recovery of its loan sanctioned to
the Corporate Debtor. Copy of mutual fund statement is annexed.
4. It is further averred that through an email dated 21.05.2021 the
Resolution Professional intimated the Respondent tha
