Withdrawn Implead Applications, Takeover Decision Pending, Creditor Meeting, Concession Agreement Appeal

Applications by Lalpur Wind Energy Private Limited, Rated Wind Power Private Limited, and Khandke Wind Energy Private Limited to implead Gujarat Urja Vikas Nigam Limited were withdrawn to approach the appropriate forum. SREI Infrastructure Finance Ltd.'s application to take over GIMCO and Sealand Ports Private Limited was not decided on due to operational mismanagement issues. The application to call for a meeting of the Committee of Creditors was not directed, pending clarity on the Applicant's status. The appeal regarding the Concession Agreement was not deliberated on, with liberty granted to inform the Board of Directors for further consideration.

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Issues:
1. Applications by Lalpur Wind Energy Private Limited, Rated Wind Power Private Limited, and Khandke Wind Energy Private Limited to implead Gujarat Urja Vikas Nigam Limited.
2. Application by SREI Infrastructure Finance Ltd. to take over GIMCO and Sealand Ports Private Limited.
3. Application by SREI Infrastructure Finance Ltd. to call for a meeting of the Committee of Creditors.
4. Appeal by SREI Infrastructure Finance Ltd. regarding the Concession Agreement between NHAI and Fagne Songadh Expressway Limited.

1. Applications by Lalpur Wind Energy Private Limited, Rated Wind Power Private Limited, and Khandke Wind Energy Private Limited:
The applications sought to implead Gujarat Urja Vikas Nigam Limited as a party respondent in the main petition. The Appellant's counsel stated that due to the Applicants ceasing to be subsidiaries of Infrastructure Leasing and Financial Services Ltd., they wished to withdraw the applications to approach the appropriate forum. The prayer was allowed, and the applications were disposed of with liberty for the Appellant to move before the suitable forum.

2. Application by SREI Infrastructure Finance Ltd. to take over GIMCO and Sealand Ports Private Limited:
SREI Infrastructure Finance Ltd. filed an application to take over GIMCO and Sealand Ports Private Limited, requesting the necessary changes in the companies' records to reflect the set-off of loans owed to the Applicant. The Tribunal declined to decide on individual applications' merits due to the matter concerning operational mismanagement under Section 241(2) of the Companies Act, 2013, related to Infrastructure Leasing and Financial Services Ltd. The Applicant was permitted to inform the concerned Board of Directors about the companies' status and seek interim relief if required.

3. Application by SREI Infrastructure Finance Ltd. to call for a meeting of the Committee of Creditors:
SREI Infrastructure Finance Ltd. sought a direction for Infrastructure Leasing and Financial Services Ltd. to call the Applicant to the Committee of Creditors' meeting regarding the resolution of CNTL. The Tribunal refrained from issuing any direction as the acceptance of the Applicant as a Financial Creditor was unclear. The Applicant was advised to bring the matter to the Board of Directors' attention for appropriate consideration.

4. Appeal by SREI Infrastructure Finance Ltd. regarding the Concession Agreement:
SREI Infrastructure Finance Ltd. appealed for a direction to prevent the termination of the Concession Agreement between NHAI and Fagne Songadh Expressway Limited and to present the Resolution Plan. The Tribunal decided not to deliberate on the issue as it was under the Board of Directors' scrutiny. The Appellant was given liberty to inform the Board of Directors about the Resolution Plan and the need to continue with the Concession Agreement, for further consideration in accordance with the law and previous orders of the Appellate Tribunal.

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