The case arises from an appeal against the 'Impugned Order' dated 08/04/2022 in IA No.79 / 2022 in CP (IB) No. 262/7/HDB/2018, passed by the National Company Law Tribunal, Hyderabad Bench. The appellant, International Asset Reconstruction Co. Pvt. Ltd., challenged certain findings in the Impugned Order. The appeal also involves IA No. 323 / 2022 & IA No. 190/2023. The appellant contended that NHAI's refusal to agree to the Terms of Resolution Plan hindered the implementation of the Resolution Plan. The appellant also stated that it cannot be blamed for the non-implementation of the Resolution Plan.
International Asset Reconstruction Co. Pvt. Ltd. filed an appeal against an 'Impugned Order' dated 08/04/2022 passed by the National Company Law Tribunal, Hyderabad Bench, in IA No. 79 / 2022 in CP(IB) No. 262/7/HDB/2018. The appeal also involves IA No. 323 / 2022 & IA No. 190/2023. The appellant argued that NHAI's refusal to agree to a 'Terms of Resolution Plan' diminished the possibility of implementing the 'Resolution Plan' and that they cannot be held responsible for the non-implementation. The appellant also expressed willingness to forego its prayer for restoration of the bank guarantee. The Erstwhile Committee of Creditors of Transstroy Tirupati-Tiruthani-Chennai Tollways Pvt. Ltd., represented by Indian Bank, was the first respondent. Mr. Sanjay Mishra,
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The case arises from an appeal against the 'Impugned Order' dated 08/04/2022 in IA No.79 / 2022 in CP (IB) No. 262/7/HDB/2018, passed by the National Company Law Tribunal, Hyderabad Bench. The appellant, International Asset Reconstruction Co. Pvt. Ltd., challenged certain findings in the Impugned Order. The appeal also involves IA No. 323 / 2022 & IA No. 190/2023. The appellant contended that NHAI's refusal to agree to the Terms of Resolution Plan hindered the implementation of the Resolution Plan. The appellant also stated that it cannot be blamed for the non-implementation of the Resolution Plan.
International Asset Reconstruction Co. Pvt. Ltd. filed an appeal against an 'Impugned Order' dated 08/04/2022 passed by the National Company Law Tribunal, Hyderabad Bench, in IA No. 79 / 2022 in CP(IB) No. 262/7/HDB/2018. The appeal also involves IA No. 323 / 2022 & IA No. 190/2023. The appellant argued that NHAI's refusal to agree to a 'Terms of Resolution Plan' diminished the possibility of implementing the 'Resolution Plan' and that they cannot be held responsible for the non-implementation. The appellant also expressed willingness to forego its prayer for restoration of the bank guarantee. The Erstwhile Committee of Creditors of Transstroy Tirupati-Tiruthani-Chennai Tollways Pvt. Ltd., represented by Indian Bank, was the first respondent. Mr. Sanjay Mishra,
…The National Company Law Tribunal, Hyderabad…
Company Appeal (AT)…