TaxTMI 
TaxTMI 
2019 (2) TMI 1871
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....human Gupta, Mr. Syed Arsalan Abid and Mr. Prateek Khaitan, Mr. R.B. Trivedi, Mr. Raghav Seth, Mr. Debal Banerjee, Mr. Pankaj Vivek, Ms. Bidyarani, Mr. Sanjiv Sen, Mr. Satendra K. Rai, Mr. Brijesh Kumar Tamber and Mr. Avirup E. Benjamin, Mr. Ashish Rana, Mr. Surekh Kant Boxy, Mr. Sandeep Sethi Mr. Atul Batra, Ms. Priya Singh and Ms. Shreya Mathur, Mr. Mukul Rohatgi, Mr. Arun Kathpalia, Mr. Amrendra Sharan, Mr. Abhinav Vashisht, Senior Advocates along with Mr. Maanmeet Singh, Mr. Ankrit Gupta, Ms. A. Amchyil, Ms. Geetanjali Shalin and Ms. Ria Kohli, Mr. Vardhman Kaushik, Ms. Sangkrito Ray Choudhuri , Mr. Naresh Kaushik and Mr. Ravi Singh,Ms. Sakshee Sharma, Mr. Rajeev Mehtra, Ms. Vanita Bhargava, Mr. Aseem Chaturvedi and Ms. Wamika Trehan, ORDER Dr. Abhishek Manu Singhvi, Mr. Arun Kathpalia, Mr. Abhinav Vashisht, Mr. Amrendra Saran, Mr. Rajiv Datta, learned senior counsels and other counsels appeared on behalf of the Intervener (Financial Creditors or Operational Creditors or other secured creditors. Intervention application(s) filed by them are allowed. Other Intervenors and the parties who intend to file impleadment application may file intervention application(s....
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....The stand of the 'Union of India' in regard of those Entities is as follows: "7. Further, as per the order dated February 4, 2019 passed by this Hon'ble Tribunal in the present appeal, this Hon'ble Tribunal directed the Appellant to give details of: a) "Green Entities" : Domestic Group Entities which can continue meet all their payment obligation (both financial and operational) as and when they become due; b) "Amber Entities" : Domestic Group Entities which are not able to meet all their obligations (financial and operational), but can meet only operational payment obligations and payment obligations to senior secured financial creditors; and c) "Red Entities" : Domestic Group Entities which cannot meet their payment obligations towards even senior secured financial creditors, as and when such payment obligations become due. The classification of entities into "Green", "Amber" and "Red" has been done by the Resolution Consultant appointed by the New Board of Respondent No.1 based on a 12-month cash flow based solvency test." 9. From the aforesaid list, we find that '22 Group Companies' have been marked as "Gr....
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....f the Intervenor(s). 19. With regard to "38 Red Entities", prayer has been made to permit "Red Group Entities" to make payments necessary only to maintain and preserve the "Going Concern Status". 20. Objections have been raised by learned counsel aforesaid and other counsel with regard to such prayer made by the Appellant. 21. In the circumstance, we intend to hear the matter with regard to "Amber Group Entities" and "Red Group Entities" on the next date. 22. We also intend to hear the 'Union of India' and the Board of Management of the 'IL&FS' as to how they intend to resolve all the entities particularly "Amber Group Entities" and "Red Group Entities". Whether they intend to constitute any 'Committee of Creditors', as normally done in the case of 'Corporate Insolvency Resolution Process'. They will also give a timeframe for such resolution with regard to the aforesaid Group Companies as the interim order passed on 15th October, 2018 cannot continue for indefinite period. 23. Learned Senior Counsel appearing on behalf of the 'Union of India' referred to Paragraph 11 of the Affidavit dated 11th February, 2019 and alleged that certain lenders of 'IL&FS Group' ar....
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.... Limited Cuddalore Solar Power Private Limited 38.Dakshin Dilli Swachh Initiatives Limited 39, Damodar Valley Tourism Development Private Limited This list is based on the data provided by the relevant Respondent No. 1 Group Entity as of 30 November 2018 which was filed by Respondent No. 1 with the NCLAT on December 17, 2018 in Company Appeal (AT) No. 347 of 2018 Document 2 Area New Del R. No. 2163/02 40. Dighi Port Limited 41. Dighi Project Development Company Limited 42. East Delhi Waste Processing Company Limited 43. East Hyderabad Expressway Limited 44. Elsamex Colombia SAS 45. Elsamex India Pvt. Ltd. 46. Elsamex Internacional S.L.U. 47. Elsamex Maintenance Services Limited 48. Elsamex Portugal S.A 49. Elsamex Road Technology Company Limited 50. Elsamex Roads and Infrastructure WLL 51. Elsamex S.A 52. 53. 54. Elsamex Vietnam Joint Stock Company ESM Mantenimiento Integral de SA de CV Etesian Urja Limited 55. Fagne Songadh Expressway Limited 56. Free Trade Warehousing Private Limited Futureage Infrastructure India Limited Geotecnia y Control de Qualitat SA 57. 58. 59. 60. ....
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....ore Natural Resources Pte Ltd. 112. IL&FS ORIX Trust 113. IL&FS Paradip Refinery Water Limited 114. IL&FS Portfolio Management Services Limited 115. IL&FS Prime Terminals FZE 116. IL&FS Rail Limited 117. IL&FS Securities Services Ltd. 118. IL&FS Skills Development Limited 119. IL&FS Tamil Nadu Power Company Limited 120. IL&FS Technologies Limited 121. IL&FS Technologies Philippines Inc. 122. IL&FS Township & Urban Assets Limited 123. IL&FS Transportation Networks Limited 124. IL&FS Urban Infrastructure Managers Limited 125. IL&FS Water Limited 126. IL&FS Wind Energy Limited 127. IL&FS Wind Power Services Limited 128. IMICL Dighi Martime Ltd. 129. India Tourist & Heritage Village Pvt. Ltd. 30. Indraprastha Energy and Waste Management Company Limited Document 4 131. Infrastructure Development Corporation of Assam Ltd 132. Infrastructure Development Company of Nagaland Pvt. Ltd. 133. Infrastructure Leasing & Financial Services Limited 134. Integrated Trans Log Development Company Limited 135. Intevia-Grusamar-Dair UTE Seguridad Vial Bizkaia 136. Intevial Gestao Integral Rodoviaria, S.A. 137. INTL Internati....
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....amex Hyderabad Ring Road Ltd 195. Ranchi Muri Road Development Limited 196. Rapid MetroRail Gurgaon Limited 197. Rapid Metro Rail Gurgaon South Limited 198. Ratedi Wind Power Private Limited 199. RDF Power Projecs Limited 200. Road Infrastructure Development Company of Rajasthan Limited. 201. Rohtas Bio Energy Limited 202. Sabarmati Capital One Limited 203. Sabarmati Capital Two Limited 204. Saffron Investment Trust 205. Se7en Factor Corporation 206. Sealand Ports Pvt Ltd 207. Sealand Warehousing Pvt. Ltd. 208. Senalizacion Viales e Imagen S.A.U. 209. Shendra Green Energy Limited 210. Sikar Bikaner Highway Limited 211. Sipla Wind Energy Ltd. 212. Skill Training Assessment Management Partners Limited 213. Sociedad Concesionaria Autovia A-4 Madrid S.A. 214. South Coast Infrastructure Development Company of Andhra Pradesh Limited 215. Srinagar Sonamarg Tunnelway Limited 216. Standard Chartered (Singapore) Pte Limited IL&FS Investment Management 217. Surya Urja Company of Rajasthan Limited 218. Swayam Swachatta Initiative Limited 219 Syniverse Technologies India Private Limited 220 Tadas Wind Ener....
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....ra II 281. UTE Polideportivos Latina 282. UTE Recloracion 283. UTE Santiago AP-9 284. UTE Seguridad Via Murcia II 285. UTE Servicio Mantenimiento Las Palmas 286. UTE Servicios Energeticos de Antequera 287. UTE Servicios Energeticos las Palmas 288. UTE Sevilla Este 289. UTE SG 2/2008 290. UTE SG-2/2011 291. UTE Sistema Tarifario 292. UTE STM Terres del L'Ebre 293. UTE Tren Mallorca 294. Uttarakhand Infrastructure Projects Company Limited 295. Vansh Nimay Infraprojects Limited 296. Vejas Power Projects Ltd. 297. Vias Y Construcciones Viacon S.R.L 298. Vizag Agriport Pvt. Ltd. 299. Warora Chandrapur Ballarpur Toll Road Limited 300. West Gujarat Expressway Limited 301. Wind Urja India Private Limited 302 Yala Construction Company Pvt. Ltd. UBLIC Rubing Yes GO INDIA Document 8 S. No. 1. ANNEXURE C-LIST OF INDIAN IL&FS GROUP ENTITIES Name of the Indian IL&FS Group Entity IL&FS Financial Services Limited 2. IL&FS Investment Managers Limited 3. IL&FS Securities Services Limited 4. IL&FS Transportation Networks Limited 5. 6. 7. 8. 9. Chattisgarh Highway Development....
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.... 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. Chenani Nashri Tunnelway Limited East Hyderabad Expressway Limited Futureage Infrastructure India Limited Hazaribagh Ranchi Expressway Limited IL&FS Rail Limited ITNL Road Infrastructure Development Company Limited ITNL Road Investment Trust Jharkhand Road Projects Implementation Company Limited Karyavattom Sports Facilities Limited Kiratpur Ner Chowk Expressway Limited Moradabad Bareily Expressway Limited MP Border Checkpost Development Company Limited North Karnataka Expressway Limited Pune Sholapur Road Development Company Limited 72. Rapid Metro Rail Gurgaon Limited 73. Ranchi Muri Road Development Limited 74. Sikar Bikaner Highway Limited 75. Vansh Nimay Infraprojects Limited 76. 77. West Gujarat Expressway Limited Rapid Metro Rail Gurgaon South Limited 78. Khed Sinnar Expressway Limited Barwa Adda Expressway Limited Jharkhand 79. 80. Limited 81. 82. Infrastructure Implementation Company Amravati Chikhli Expressway Limited Fagne Songadh Expressway Limited 83. GRICL Rai....
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.... Private Limited Avash Logistic Park Private Limited 135. Sealand Warehousing Private Limited Vizag Agriport Private Limited Sabarmati Capital One Limited 136. 137. 138. Sabarmati Capital Two Limited 139. Hill County Properties Limited 140. Wind Urja India Private Limited 141. Kaze Energy Limited 142. Etesian Urja Limited 143. 144. 145. 148. 149. Tadas Wind Energy Private Limited Khandke Wind Energy Private Limited Indraprastha Energy & Waste Management Company Limited 146. Chennai Industrial Water Utility Company Limited 147. Integrated Trans Log Development Company Limited Bengal Integrated Infrastructure Development Limited Bengal Urban Infrastructure Development Limited Damodar Valley Tourism Development Private Limited 151. Gujarat Industrial Infrastructure Projects Limited 152. Gujarat Tourism Opportunity Limited 150. 153. 154. 155. 156. Infrastructure Development Company of Nagaland Private Limited Infrastructure Development Corporation of Assam Limited Jharkhand Infrastructure Development Corporation Limited KSIIDC-IL&FS Project Development Compan....
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....4. Land Registration Systems Inc. Mantenimiento y Conservacion de Vialidades S.A. de C.V. Maritime International Offshore Pte Ltd. Park Line LLC Elsamex Vietnam Joint Stock Company Document 13 45. 46. PT Bangun Asia Persada PT Mantin Coal Mining 47. Saffron Investment Trust 48. Se7en Factor Corporation 49. 50. Senalizacion Viales e Imagen S.A.U. Chongqing YuHe Expressway Company Limited 51. Consorcio de Obras Civiles, Conciviles SRL Geotecnia y Control de Qualitat SA Kukuza Project Development Company Standard Chartered IL&FS Investment Management (Singapore) Pte Limited Vias Y Construcciones Viacon S.R.L 52. 53. 54. 55. 56. 57. Cons. Jose Saldis 58. 59. 60. UTE Embalse de Flix UTE Dair-Intevia UTE Conservación Cádiz Sur (MartÃn Casillas) UTE Argentona Elsamex Rubai 61. UTE Elsamex-ITNL UTE SG 2/2008 Grusamar Progescan UTE Areas De Servicio UTE Arucas Intevia-Grusamar-Dair UTE Seguridad Vial Bizkaia UTE Abedul Orihueia 62. 63. 64. 65. 66. 67. UTE Abedul Ponferrada 68. UTE Abedul Villavidel 69. UTE Abedul Zamora 70.....
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....era Drinking Water Supply Project Limited 6. 7. ISSL Settlement & Transaction Services Limited IL&FS Asian Infrastructure Managers Limited 8. 9. IL&FS Urban Infrastructure Managers Limited IIML Asset Advisors Limited 10. IL&FS Infra Asset Management Limited 11. 12. 13. Andhra Pradesh Urban Infrastructure Asset Management Limited North Karnataka Expressway Limited Jharkhand Infrastructure Implementation Company Limited 14. IL&FS Solar Power Limited 15. Ratedi Wind Power Private Limited 16. Lalpur Wind Energy Private Limited 17. Maytas Logiparks (Isnapur) Private Limited" 18. Wind Urja India Private Limited 19. Kaze Energy Limited 20. Etesian Urja Limited 21. 22. Tadas Wind Energy Private Limited Khandke Wind Energy Private Limited * This entity has been classified as a "Green Company" based on representations made to the IL&FS management that the Government of Tamil Nadu, which is one of the shareholders of the company and the only financial creditor of the company shall provide suitable relaxations (in respect of its loan) to enable the company to meet its payment obligations....