2025 (1) TMI 993

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Chairperson , [ Barun Mitra ] Member ( Technical ) And [ Arun Baroka ] Member ( Technical ) For the Appellant : Mr. Krishnendu Datta, Sr. Advocate with Mr. Pulkit Deora and Ms. Alina Merin, Advocates For the Respondent : Mr. Deepak Saxena, Mr. Shivanjali Mane and Mr. Kaushal Ameta, Advocate for Union Bank of India Mr. Kushal Bansal, Mr. Anish Ahlawat, Advs. for RP. Mr. Rajesh Kumar Gau....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... passed: "04.07.2024: Learned Counsel for the Appellant submits that the Appellant has already submitted a proposal to the Bank for consideration. investor has already shown his interest that is communicated to the Bank and Bank is considering the proposal. 2. Shri Gautam, Learned Counsel appearing for the Respondent submits that he shall obtain instructions with regard to propos....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....mits that he has also submitted an OTS to Union Bank of India. Today, when the matter was taken Learned Counsel for the Appellant as well as Learned Counsel for the Indian Bank submitted that OTS has already been accepted by Indian Bank and no dues certificate has issued on 01.01.2025 and all payments have been made under the OTS. 6. In the facts of the present case and in view of the law laid ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....reason to keep the appeal pending. The Appeal is disposed of with giving liberty to the Financial Creditor - Indian Bank to file an application under 12A through IRP in accordance with 12A Regulation 30A which shall be done within two weeks from today. The IRP shall take steps for getting the application listed and disposed of at an early date for a period of within six weeks. The Committee of Cre....