Allowed

In the matter of Dewan Housing Finance Corporation Limited Ia No. 2524-2020 & Ia No. 2982-2021 in CP(IB)4258-MB-C-II-2019

NCLT9 Feb 2023

Case brief

AI extract

What is this about?

The NCLT allowed an application seeking to amend the memorandum of parties in an insolvency matter. The court substituted the Applicant's name for the erstwhile Administrator in a previous application, noting a similar issue was decided in a related IA.

What did the court decide?

The application to amend the memorandum of parties in IA 2524 of 2020 was allowed; the Applicant's name was substituted for the Administrator.

In the matter of Dewan Housing Finance Corporation… — Insolvency and Bankruptcy | NCLT (2023)

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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT II

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IA.No.2982/2021 IN IA 2524/2020 IN CP(IB)4258/MB/C-II/2019

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Under Rule 11 of the National Company Law Tribunal Rules, 2016

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Application under Section 60(5) of the Insolvency & Bankruptcy Code, 2016

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…. Applicant

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In the matter of

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Piramal Capital & Housing Finance Limited (Formerly known as Dewan Housing Finance Corporation Limited 601, 6^th Floor, Piramal Amiti Bldg, Piramal Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West Mumbai MH 400070

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… Applicant

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V/s

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Kapil Wadhawan & Ors.

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an Indian Inhabitant, Ex-Chairman and Managing Director of Dewan Housing Finance Corporation Ltd. having its address at i) 23, Sea View Palace Pali Hill, Bandra (West) Mumbai- 400050.

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ii) 13^th , 14^th . 15^th and 16^th Floor, DB Breeze, Khar (West), Mumbai- 400 052.

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Presently in judicial custody

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Taloja Central Jail, Inampuri, Taloja, Navi Mumbai, Maharashtra- 410208

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… Respondents

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NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT II IA.No.2982/2021 In IA.No.2524/2020 In CP(IB)4258/MB/C-II/2019

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In the matter of Administrator of Dewan Housing Finance Corporation Limited

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…. Applicant

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V/s Bank of Baroda & Ors.

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…… Respondents In the matter Between Reserve Bank of India

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… Financial Sector Regulator V/s

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Dewan Housing Finance Corporation Limited … Erstwhile Corporate Debtor/ Financial Service Provider

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Order delivered on: 09.02.2023

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Coram:

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Hon’ble Member (Judicial) : Justice P. N. Deshmukh (Retd.) Hon’ble Member (Technical) : Mr. Shyam Babu Gautam

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Appearances:

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For the Applicant : Ms. Chitra Rentala, Advocate For the Respondent : Sr. Counsel, Mr. JP Sen a/w Mr. Vishesh Malviya

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Page 2 of 3

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NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT II IA.No.2982/2021 In IA.No.2524/2020 In CP(IB)4258/MB/C-II/2019

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ORDER

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Per: CORAM

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The present Application IA 2982 of 2021 has been filed by the Applicant seeking amendment of the memorandum of parties in the IA 2524 of 2020 and all necessary consequential amendments to the IA 2524 of 2020.

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The Applicant has also prayed to substitute its name “Piramal Capital & Housing Finance Limited” to be substituted in place of the erstwhile Administrator, Mr. Subramaniakumar.

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The similar issue has been dealt in the IA 2852 of 2021. In view of the same, the present Application IA 2982 of 2021 is allowed and disposed of.

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Sd/-

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Sd/-

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SHYAM BABU GAUTAM JUSTICE P.N. DESHMUKH MEMBER (TECHNICAL) MEMBER (JUDICIAL)

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Page 3 of 3

In the matter of Dewan Housing Finance Corporation Limited Ia No. 2524-2020 & Ia No. 2982-2021 in CP(IB)4258-MB-C-II-2019

Case brief

What is this about?

What did the court decide?

In the matter of Dewan Housing Finance Corporation Limited Ia No. 2524-2020 & Ia No. 2982-2021 in CP(IB)4258-MB-C-II-2019

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

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