2011 (1) TMI 1522

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....orate Affairs, an Officer appearing on behalf of the Union of India/Petitioner is present today (13.1.2011) and files an affidavit stating that the Union of India supports CA No.24/2011 which is perused by me. 3. Shri Vijay Sharma, Learned Advocate, appearing for the Hill County Owners' Welfare Association also states that he has received a copy of the CA No.24/2011 and does not oppose the ....

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....ve also perused the following documents: (i) The Order passed by my Learned Predecessor in CP No.04/2009 on 5.4.2009, (ii) The report of the SBI Capitals Market Limited (Annexure 2), (iii) Recommendations made by Hon'ble Dr. Justice AR. Laxmanan (Retd.) (Annexue -3) and (iv) the proposal given by the IL&FS group regarding a composite revival plan for MPL. ....

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....ted (IECL) as the new promoter of MPL and permit reconstitution of the Board of MPL as provided hereinunder. (ii) The IL&FS group shall invest Rs. 20 lakhs in equity share capital of the MPL whereupon its share holdings in MPL would become 80%. (iii) The IL&FS group on its induction as the strategic investor shall take-over the management control of the MPL and reconstitute the B....

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....oject Phase-I within 18 months of its induction as promoter in MPL and shall arrange the required finances to complete the project. (vi) The IL&FS group shall be entitled to recover the inter-corporate deposits provided to Mahindra Satyam Services Limited (formerly Satyam Computer Services Limited). (vii) The IL&FS shall settle all disputes, tax liability and the contractual dues....