Application by Resolution Professional seeking directions to utilise Karnata Bank funds was dismissed. Tribunal relied on a recent order recalling the applicant to allow a newly appointed Resolution Professional to take steps.
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 NEW DELHI, COURT-III
| IA-1679/2022 In (IB)/761(ND)/2018 |
|---|
| Order under Rule 11 of the National Company Law Tribunal Rules, 2016. |
| IN THE MATTER OF: |
| M/s. Sony Pictures Networks India Private Limited .… Operational Creditor Vs. |
| M/s. Ortel Communications Limited .... Corporate Debtor |
| AND IN THE MATTER OF: |
| Mr. Srigopal Choudhary …. Applicant Vs. |
| Karnataka Bank .... Respondent |
| Order delivered On: 12.12.2023 |
CORAM:
SHRI BACHU VENKAT BALARAM DAS HON’BLE MEMBER (JUDICIAL)
SHRI ATUL CHATURVEDI HON’BLE MEMBER (TECHNICAL)
| PRESENT: | |
|---|---|
| For the OC | : Ms. Payal Kakra, Mr. Pranav, Advs. |
| For the RP | : Mr. Abhishek Anand, Mr. Kushal Bansal, Ms. Nidhi Yadav, Mr. Vaibhav Mendiratta, Mr. SG Choudhary, Mr. Bijay Kr. Jena , Mr. Parish Mishra, Advs. |
| For Respondent | : Mr. Anirban Bhattacharya, Mr. Rajeev Chowdhary, Advs. |
| For CBIC | : Mr. Akshay Amritanshu, Mr. Samyak Jain, Mr. Ashutosh Jain, Advs. |
| ORDER |
PER: BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)
1. This application has been filed by Mr. Srigopal Choudhary who was appointed as the Resolution Professional by this Adjudicating Authority, under Rule 11 of the National Company Law Tribunal Rules, 2016 before this Adjudicating Authority seeking the following reliefs:
IA-1679/2022 In (IB)/761(ND)/2018 Date of Order: 12.12.2023
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2. In view of the order passed in IA-3216/2023 wherein the application filed by Shri Srigopal Choudhary seeking recall of the order dated 07.06.2023 has been rejected and a direction has been given that Mr. Ranjan Chakraborti who has been appointed as the Resolution Professional by this Adjudicating Authority vide order dated 07.06.2023 to take over the charge as Resolution Professional, we do not consider it appropriate to pass any order in the present application and dismiss the same giving liberty to Mr. Ranjan Chakraborti, the newly appointed Resolution Professional to take appropriate steps in this regard, if necessary.
3. IA disposed of accordingly.
Sd/Sd/- (ATUL CHATURVEDI) (BACHU VENKAT BALARAM DAS) MEMBER (TECHNICAL) MEMBER (JUDICIAL)
IA-1679/2022 In (IB)/761(ND)/2018 Date of Order: 12.12.2023
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M/s. Sony Pictures Networks India Private Limited
M/s. Ortel Communications Limited
Mr. Srigopal Choudhary
Karnataka Bank
BACHU VENKAT BALARAM DAS
ATUL CHATURVEDI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
