(1.) The issue that arises for consideration in this batch of writ petitions revolves around the scope of sub-sec. (8) to Sec. 19 of the Recovery of Debts and Bankruptcy Act, 1993 (hereinafter referred to as "RDB Act").
(2.) Brief facts: In the above batch of writ petitions, INMA International Limited was originally represented by its Directors viz., 2nd and 3rd petitioners. Proceedings were initiated against 1st petitioner under Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "IBC") wherein Resolution Professional (RP) came to be appointed vide order dtd. 21/9/2022. In view thereof, 1st petitioner company viz., INMA International Limited is represented by RP. Before proceeding to narrate the relevant facts, we intend to clarify at the outset that proceedings were initiated under RDB Act, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "SARFAESI Act") and IBC. The present writ petitions are challenging the order of DRAT under RDB Act, we would thus focus primarily on the proceedings under RDB Act. While setting out briefly the proceedings under SARFAESI and IBC, we also intend to deal with facts under the following heads rather than a chronological narration of facts inasmuch as the proceedings overlap. The heads of narration of facts being: A) Proceedings under RDB Act; B) Proceedings under SARFAESIAct; C) Proceedings under IBC. A. Proceedings under RDB Act:
(3.) Aggrieved by above order of DRT dtd. 30/5/2019, both Bank and petitioners preferred appeals before DRAT. Respondent bank challenged the order of DRT inasmuch as it was aggrieved by the waiver of interest towards counter claim by way of damages made by petitioners. Petitioners preferred an appeal challenging the order of DRT insofar as its counter claim of Rs.30.00crores was restricted to waiver/dis-entitlement of Bank in claiming interest from the date of sanctioning of financial facilities till the date of filing of original application and prayed to award damages of Rs.30.00 crores as claimed.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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