Disposed

Pridhvi Asset Reconstruction And Scuritisation Company Ltd. v. Ms Sai Krishna Industrial Gases Pvt. Ltd. and Ors.

DRAT9 Feb 2023REGULAR APPEAL/79/2019

Case brief

AI extract

What is this about?

The Debt Recovery Appellate Tribunal allowed an interim application to substitute the legal representatives of a deceased respondent. Subsequently, the Tribunal disposed of the main appeal by recording a Memorandum of Understanding filed by the parties. Board resolutions and the MOU were filed and considered.

What did the court decide?

The appeal was disposed of in terms of the Memorandum of Understanding dated 8th February, 2023; interim application I.A. 62 of 2023 was allowed to substitute legal representatives.

Pridhvi Asset Reconstruction And Scuritisation Company… — Insolvency and Bankruptcy | DRAT (2023)

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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT KOLKATA

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Appeal No. 79 of 2019

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(Arising out of S.A. 02 of 2018 in DRT, Visakhapatnam)

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THE HON’BLE MR. JUSTICE ANIL KUMAR SRIVASTAVA CHAIRPERSON

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09.02.2023 Pridhvi Asset Reconstruction And Securitisation Company Limited … Appellant -VsM/s. Sai Krishna Industrial Gases Private Limited & Others … Respondents Ms. Rakhi Purnima Paul with Mr. Mukul Banerjee, Learned Counsel for Appellant Mr. Nemani Srinivas, Learned Counsel for Respondents No. 1 and 2 Mr. Rajdeep Mantha with Mr. Rajeswara Rao and Mr. Shikhar Singh, Learned Counsel for Respondent No. 3/Auction Purchaser

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THE APPELLATE TRIBUNAL :

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I.A. 62 of 2023

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Instant application is for substitution of the legal representatives of L.V. Gopal Krishna, Respondent No. 2, who died on 19^th December, 2021 leaving behind his legal representatives Respondent No. 2 Smt. Lanka Rupa Vani and Respondent No. 2 (a) Sri Lanka Doondi Krishna.

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Mr. Srinivas, Learned Counsel has filed Vakalatnama on behalf of the legal representatives. No objection is filed. Accordingly I.A. 62 of 2023 is allowed.

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Amendment be carried out during course of the day.

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I.A. 63 of 2023

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In the instant application Appellant prays for passing necessary order in accordance with the Memorandum of Understanding arrived at by and between the parties on 8^th February, 2023. The Memorandum of Understanding has been filed by the respective parties who are identified by their Learned Counsel. Note to this effect is appended by the Registry. Board Resolutions are also filed along with the I.A. 63 of 2023.

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Accordingly, Appeal No. 79 of 2019 is disposed of in terms of the Memorandum of Understanding dated 8^th February, 2023 which shall form part of this judgment.

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Copy of the order be supplied to Appellant and the Respondents and a copy be also forwarded to the concerned DRT.

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File be consigned to Record room.

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Order dictated, signed, dated and pronounced in open Court.

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(Anil Kumar Srivastava,J) Chairperson

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Dated: 09^th February, 2023 12/ac

Pridhvi Asset Reconstruction And Scuritisation Company Ltd. v. Ms Sai Krishna Industrial Gases Pvt. Ltd. and Ors.

Case brief

What is this about?

What did the court decide?

Pridhvi Asset Reconstruction And Scuritisation Company Ltd. v. Ms Sai Krishna Industrial Gases Pvt. Ltd. and Ors.

Case brief

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