2021 (2) TMI 366

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....ste, Advocates ORDER (Virtual Mode) Heard Learned Counsel for the parties. 2. The Appeal filed by the Appellant against the order dated 22.01.2021 in IA 24/MB/2021 in C.P. (IB) 3434/(MB)/2019 passed by Adjudicating Authority, National Company Law Tribunal, Court-V, Mumbai Bench. 3. The case of the Appellant is that the Appellant is a financial service provider and a Category II- Alternate Investment Fund registered with the Securities and Exchange Board of India (SEBI) and floated by UTI Structured Debt Opportunities Trust having SEBI Registration No. IN/AIF/17-18/0358, as per the applicable laws. The Appellant is represented by its investment manager, that is, UTI Capital Limited. The investment manager is empowered to admin....

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.... Authority. On 24th September, 2020 the Appellant lodged its claims of Rs. 2,57,84,25,381/- with the Respondent. 10. On 2nd October, 2020 the Respondent addressed an e-mail to the Appellant inter alia stating that the Respondent was not admitting the Appellant's claim for the reasons set out therein. 11. On 3rd October, 2020, the Respondent served a copy of the Interlocutory Application No. 1746 of 2020 on this Appellant, filed before the Ld. Adjudicating Authority for seeking avoidance of the Appellant's transaction and other reliefs as more particularly set out therein. 12. Aggrieved by the rejection of the Appellant's claim by the Respondent, on 6th October, 2020 the Appellant filed an Interlocutory Application No. 1628 of 2020 ....

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.... by wrongly rejecting the claim of the Appellant. 19. On 7th January, 2021, I.A. NO. 1628 of 2020 and I.A. No. 1746 of 2020 were listed before the Ld. Adjudicating Authority at which time different opinions were passed. The matters will now have to be heard and finally decided by a third Hon'ble Member and thereafter appropriate orders be passed thereupon. The matters are now fixed for hearing on 12th February, 2021 before the third Member. 20. Learned Counsel for the Appellant submitted that CIRP is continuing and propose resolution plan from the Applicant have been asked to be filed latest by 18th February, 2021. 21. It was further submitted that as I.A. No. 1628 of 2020 and I.A. No. 1746 of 2020 is pending for hearing before the....