2023 (4) TMI 445

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....nkar, Advocates For the Respondent-1 : Mr. Krishna Gandhi, Advocate For the Respondent-2 : Mr. Ravi Charan and Ms. Niharika, Advocates JUDGMENT ( Physical Mode ) Justice M. Venugopal, Member (Judicial) : Heard both sides. 2. The Learned Counsels appearing for the respective 'Parties', have expressed their point of view, before this 'Tribunal', for 'setting aside', the 'Findings', in the 'Impugned Order' dated 08.04.2022, passed by the 'Adjudicating Authority', 'National Company Law Tribunal', Hyderabad Bench, Hyderabad, in IA No. 79 / 2022 in CP(IB) No. 262 / 7 / HDB / 2018, in respect of certain observations made in Paragraph Nos. 6, 9, 10, 11 and 14 to the extent that, it finds 'Failure' / 'Default', on the part of th....

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....ailure / default of the Appellant) and 21 (ii) (i.e., setting aside of the directions contained in paragraphs 10 and 14 of the Impugned Order) of the Appeal may therefore be allowed and the directions to initiate prosecution against the Appellant (and / or its Directors / Officials) be set aside." 4. According to the Appellant, despite its all possible endeavours 'NHAI', had declined to agree to a 'Terms of Resolution Plan', thereby, diminishing the possibility of implementation of the 'Resolution Plan', and in the absence of an 'Approval', from 'NHAI', it was impossible to revive the 'Corporate Debtor', which will go to the root of the implementation of the 'Resolution Plan'. 5. As a matter of fact, the plea of the Appellant is that,....