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Judgment
This is an application for substitution of RP with the lender bank i.e. SBI, as resolution plan has already been approved and there is clause no. 4.8(d) by which the avoidance application can be pursued by the lenders and the said plan has been approved by this Bench on 6th October, 2021.
In these circumstances, the applicant/RP in IA No. 338/2020 and 339/2020 has become functus officio. On the other hand, learned counsel for the SBI bank/ lender has no objection if the application is allowed and SBI bank is substituted in IA No. 338/2020 and 339/2020.
In these circumstances, both the applications are allowed and amended memo of parties be placed on record in IA No. 338/2020 and IA No. 339/2020 and the notice be given after that, to the respondents who have not appeared so far and the respondents who have appeared may file the reply to the applications No. 338 &339 of 2020 within three weeks by serving an advance copy to the other side. Rejoinder thereto, if any be filed within next two weeks by serving in advance copy to the other side.
List the matter on 21st September, 2021.