IDBI BANK Vs. JAYPEE INFRATECH

JUDGEMENT

(1.) Cp NO.(IB) 77/ALD/2017, CA NO.166/2017

(2.) Meanwhile, the Court would like to express its concern for the interest of the fixed depositors. We expect that the Ld. RP would make a serious effort for convening the meeting of the COC by issuing notices to FD Holders being Financial Creditor in accordance with the provisions of the Code to participate in the fore coming meetings of the COC. However, in order to remove the practical difficulty being faced by the RP for smooth conduct of the COC meeting, which is a time bound measure, the interim direction issued earlier by this Court meanwhile to be continued.

(3.) Meanwhile, the nominee Officer appointed by the Ministry of Corporate Affairs (MCA) is also expected to file its internal report to this Court on the discussion held in COC and suggestion given by him to safeguard the interest of the fixed depositors/other stakeholders. A copy of this order be also communicated to the Central Government through the O/o Secretary, Ministry of Corporate Affairs, New Delhi and to the Ld. Additional Solicitor General, Allahabad, for information.