The Bench dismissed the Applicant's application seeking directions against the former Directors as irrelevant, noting that a Resolution Plan is currently awaiting approval.
The IA was dismissed as it has become irrelevant due to the filing of a Resolution Plan.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH - II
I.A.No.63 of 2022 in CP (IB) No.682/07/HDB/2018
In the matter of
M/S. MANTENA LABORATORIES LIMITED
Between :
CA Kambhammetu Sri Vamsi, Resolution Professional of M/s. Mantena Laboratories Limited, R/o A85, DX4, Level 2, Sri Varasiddhi Nivas, Road No.11, Film Nagar, Jubilee Hills, Hyderabad – 500 033.
…. Applicant
Vs
…. Respondents
IA No.63 of 2022 in CP (IB) No.682/07/HDB/2018 Order dated : 13.12.2023
And in the original matter between:
M/s. Edelweiss Asset Reconstruction Co. Ltd.
.... Financial Creditor
Vs.
M/s. Mantena Laboratories Limited
.... Corporate Debtor
Date of order: 13.12.2023
CORAM :
Hon’ble Sri Rajeev Bhardwaj, Member (Judicial) Hon’ble Sri Sanjay Puri, Member (Technical)
Counsels present :
For the Applicant : Mr. V.S.R. Avadhani, Advocate For the Respondents : Mr. C. Raghu, Advocate Heard on : 10.11.2023
Per : Bench
O R D E R
Page 2 of 3
IA No.63 of 2022 in CP (IB) No.682/07/HDB/2018 Order dated : 13.12.2023
The IA is thus dismissed and disposed accordingly.
Sd/- Sd/(SANJAY PURI) (RAJEEV BHARDWAJ) MEMBER (TECHNICAL) MEMBER (JUDICIAL)
VL
Page 3 of 3
CA Kambhammetu Sri Vamsi
Mr. Ramakrishnavara Prasada Raju
Ms. Penmetsa Shirisha
Mr. Navdeep Balkrishna Malkar
Rajeev Bhardwaj
Sanjay Puri
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
