ICICI BANK LIMITED Vs. MANTENA LABORATORIES LIMITED

JUDGEMENT

(1.) Icici Bank Limited, Hyderabad, assails the order dated 25.04.2019 passed by the Debts Recovery Tribunal II, Hyderabad (for brevity, 'the Tribunal'), in I.A.No.3795 of 2015 in S.A.No.1068 of 2015. The said I.A. was filed by the bank to dismiss the securitisation application on the ground that the Managing Director of M/s.Mantena Laboratories Limited, Hyderabad, the applicant therein, was not competent to represent it. By the order under challenge, the Tribunal dismissed the I.A.

(2.) By order dated 30.04.2019, this Court granted interim stay of further proceedings in S.A.No.1068 of 2017. I.A.No.2 of 2019 was filed by M/s.Mantena Laboratories Limited, Hyderabad, the respondent herein, to vacate the said order.

(3.) Heard Sri Ambadipudi Satyanarayana, learned counsel for the bank, and Sri V.Hariharan, learned counsel for the respondent company.