National Company Law Appellate Tribunal
M/S Canara Bank vs Mr. Nitin Vishwanath Panchal Rp Of ... on 1 August, 2024
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
AT CHENNAI
(APPELLATE JURISDICTION)
Company Appeal (AT) (CH) (Ins) No. 131/2023
(Under Section 61 of the Insolvency and Bankruptcy Code, 2016)
(Arising out of the Impugned Order dated 13.03.2023 passed in
IA(IBC)/520/2021 in CP(IB) No.384/7/HDB/2018 passed by the
'Adjudicating Authority' (National Company Law Tribunal, Hyderabad
Bench-II)
In the matter of:
Canara Bank,
Erstwhile Syndicate Bank,
Stressed Asset Management Branch,
No. 112, JC Road,
Bengaluru - 560 002 &
Prime Corporate Branch at
TSR Complex, 2nd Floor,
1-7-1, S.P. Road,
Secunderabad - 500 003
Rep. by its Senior Manager-Law
Mr. Yadav P Das ...Appellant
V
1. Mr. Nitin Vishwanath Panchal,
Resolution Professional of
M/S. Galada Power and Telecommunication Ltd.,
Admn. Office : Galada Towers, 301, Begumpet
Hyderabad -- 500 016.
2. The Committee of Creditors,
M/S. Galada Power and Telecommunication Ltd.,
Yd Floor, IDBI Tower,
WTC Complex, Cuffe Parade,
Mumbai - 400 005
3. M/S. Amurtha Constructions Pvt. Ltd.
Resolution Applicant of
Ws. Galada Power and Telecommunication
Ltd., H.N0.6/3/1090/1/A, Flat No.21,
Somajiguda Rajbhavan Road,
Hyderabad -500 038.
4. M/S. Jiva Internet Solutions Pvt. Ltd.,
Resolution Applicant of
M/S. Galada Power and Telecommunication Ltd.,
710, 7d1 Floor, Swapnalok Complex, S.D. Road,
Secunderabad -- 500 029
5. Ws. Radha Smelters Pvt. Ltd.,
Resolution Applicant of
M/S. Galada Power and Telecommunication Ltd.,
Registered Office : 8-2-296/S, Plot No.75 & 76
CA(AT) (CH)(Ins) No.131/2023 Page 1 of 2
Sagar Co-operative Society, Road No.2,
Near by Banchpan School
Lane, Banjara Hills,
Hyderabad - 500 034.
6. Stressed Assets Stabilisation Fund,
3 rd Floor, IDBI Towers, WTC
Complex, Cuffe Parade,
Mumbai -- 400 005.
7. Edelweiss Assets Reconstruction Company,
Edelweiss House,
Off CST Road, Kolivery Village,
MMRDA Area, Kalina, Santacruz
East, Mumbai - 400 098.
8. UTI Trustee Company Pvt. Ltd. (UTI Mutual Fund)
UTI Towers, GN Block, Bandra-Kurla Complex,
Bandra (East), Mumbai -- 400 051. ...Respondents
Present :
For Appellants : None appeared
For Respondent : Mr. VVSN Raju-R1
ORDER
(Hybrid Mode) 01.08.2024:
This matter was taken up at 12.35 p.m. The Appellant counsel had sought for short pass over which was granted. The matter was taken up again and still none appears for the Appellant though the Respondent was and is represented by Mr. VVSN Raju for 1st Respondent.
The Appeal would stand dismissed for want of prosecution.
[Justice Sharad Kumar Sharma] Member (Judicial) [Jatindranath Swain] Member (Technical) SE/TM CA(AT) (CH)(Ins) No.131/2023 Page 2 of 2