# In the matter of HDFC Bank Ltd. vs. Kanti Mohan Rustagi & Anr. I.A. No. 1364 of 2023 in Company Appeal (AT) (Insolvency) No. 411 of 2023

> NCLAT judgment dated 2023-04-18. Citation: TCN-2023-NCLAT-00615. The appeal was filed against an order dismissing an application regarding the sharing of CIRP…

- **Court:** NCLAT
- **Order date:** 18 Apr 2023
- **Citation:** TCN-2023-NCLAT-00615
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/hdfc-bank-ltd-vs-kanti-mohan-rustagi-anr-ia-no-1364-of-2023-in-company-appeal-8a9c79b9

## Summary

### Background

The appeal was filed against an order dismissing an application regarding the sharing of CIRP costs and parking charges related to the sale of a vehicle in liquidation.

## Facts

HDFC Bank Ltd. filed an appeal against an order dated January 20, 2023, which dismissed its I.A. No. 2342 of 2020. The core dispute revolved around the sharing of CIRP Cost and Parking Charge for a Mercedes Benz S320 (Car HR70C 5546) that was in the custody of HDFC Bank and subsequently sold during liquidation. HDFC Bank contended that ICICI Bank should share these costs. The Adjudicating Authority, in an order dated September 15, 2022 , had expressed dismay at the conduct of the counsels for both banks, who were litigating over the sale of the Mercedes Benz. It directed the Chief Managers of both HDFC Bank and ICICI Bank to meet and resolve the issue, stating that such matters were not serious enough for the NCLT and were wasting its time. The matter was listed for

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in dismissing the appellant's application regarding …

**Ratio:** Matters that can be resolved between parties as directed by the Adjudicating Authority

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**Reasoning:** The Adjudicating Authority had previously directed both banks to resolve the issue

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**Interpretation:** The NCLAT interpreted the Adjudicating Authority's previous order as a clear

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**Application:** The NCLAT applied this interpretation by stating that the appellant's failure

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** HDFC Bank…
- **Respondents:** Kanti Mohan…
- **Advocates:** Dhruv Dev…; Rajat Cha…; +6 more

## Timeline

- **December 31, 2020 — I.A. No. 2342 of 2020…**: The Appellant, HDFC Bank Ltd.,…
- **September 15, 2022 — Adjudicating Authority's…**: The Adjudicating Authority directed the Chief Managers of HDFC Bank and ICICI Bank to sit…

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