Canara Bank vs Sks Power Generation ...
2022 Latest Caselaw 12093 Bom

                              IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                     ORDINARY ORIGINAL CIVIL JURISDICTION
                                          IN ITS COMMERCIAL DIVISION


                                    COMMERCIAL APPLICATION NO.144 OF 2022
                                                       IN
                                    SUMMONS FOR JUDGMENT NO.42 OF 2021
                                                     WITH
                                    INTERIM APPLICATION (L) NO.27867 OF 2021
                                                     WITH
                                    INTERIM APPLICATION (L) NO.24717 OF 2021
                                                     WITH
                                    INTERIM APPLICATION (L) NO.7302 OF 2022
                                                     WITH
                                    INTERIM APPLICATION (L) NO.20306 OF 2022
                                                     WITH
                                          APPEAL (L) NO.29826 OF 2021
                                                       IN
                                    SUMMONS FOR JUDGMENT NO.42 OF 2021
                                                     WITH
                                    INTERIM APPLICATION (L) NO.31850 OF 2021


               Canara Bank                                    ]    ...    Appellant
                              Vs.
               SKS Power Generation (Chhattisgarh) Ltd.       ]   ...    Respondent


                                                     WITH
                                          APPEAL (L) NO.29826 OF 2021
                                                     WITH
                                    INTERIM APPLICATION (L) NO.31868 OF 2021
                                                     WITH
                                    INTERIM APPLICATION (L) NO.31840 OF 2021
        Digitally
        signed by
        SANDHYA
SANDHYA BHAGU
BHAGU   WADHWA
WADHWA Date:
        2022.11.25
        16:54:10
        +0530



                                                      1/3
             916.comap-144-22.doc
             wadhwa
 Cethar Ltd.                                     ]     ...    Appellant
                 Vs.
SKS Power Generation (Chhattisgarh) Ltd. & ]
Anr.                                            ]     ...   Respondents
                                       ...


Mr. Abhinav Chandrachud with Mr. Nishit Dhruva, Mr. Prakash Shinde, Ms.
Niyati Merchant, Mr. Yash Dhruva and Mr. Harsh Sheth i/b MDP & Partners
for the appellant in Commercial Appeal No.144 of 2022.

Mr. P. Rajan i/b Ms. Rama Subbramanian for appellant in Appeal (L)
No.29826 of 2021 and for applicant in Interim Application (L) Nos.31850 of
2021, 31868 of 2021 and 31840 of 2021.

Mr. V. Dhond, Senior counsel with Mr. Rohan Kelkar with Ms. Poorva Garg
and Mr. Simon Mascarenhas i/b Mulla & Mulla & Craigie Blunt & Caroe for
respondent in COMAP/144/2022 & for respondent no.1 in APPL/29826/2021.

Mr. Akshay Petkar for the applicant in IA No.20306 of 2022 .
                                  ...


                                  CORAM : K. R. SHRIRAM &
                                             KAMAL KHATA, JJ.

DATED : 24TH NOVEMBER, 2022.

P.C. :

INTERIM APPLICATION (L) NO.20306 OF 2022

1. Applicant is seeking primarily to intervene in this appeal. Applicant

has no locus. This is because appellant has challenged a summary decree

against it and the issue in appeal is whether the Court was justified in passing

a summary decree against appellant. Hence, we are not inclined to allow

applicant to intervene.

916.comap-144-22.doc wadhwa

2. Applicant is a creditor of respondent which is undergoing Corporate

Insolvency Resolution Process ("CIRP"). Mr. Dhond submitted the Resolution

Professional has invited expression of interest from interested parties, and bids

have been received and the same are under consideration to prepare the

resolution plan to be submitted to NCLT. While inviting bids, Mr. Dhond

states, the claim of applicant herein has also been factored as an operational

creditor. How much applicant will get, whether he will get, will be based on

the order to be passed by the National Company Law Tribunal in the

resolution plan submitted. Therefore, we see no reason why the remaining

prayers (b) and (c) prayed for, should also be granted.

3. Application dismissed with costs in the sum of Rs.1 lakh and the

amount to be paid within two weeks from today to the Resolution

Professional. If not paid the same together with interest thereon at 9% per

annum to be deducted from any amount that will be payable to applicant.

4. Rest of the matters be stood over to 6 th December, 2022.

     (KAMAL KHATA, J.)                                  (K.R. SHRIRAM, J.)





916.comap-144-22.doc
wadhwa