Reliance Asset Reconstruction Co Limited v. Mohammd Imthiyas

C.M.P.No.17559 of 2024 and A.S.No.495 of 2022 SATHI KUMAR SUKUMARA KURUP,J.

The learned Counsel for the Petitioner in CMP.No.17559 of 2024 submitted his arguments on 28.10.2024, on which date, the learned Counsel for the Respondent/Appellant in the Appeal objected to the Petition seeking to substitute the Petitioner in the place of Laxmi Vilas Bank as Respondent in the Appeal and also he had filed a Petition to vacate the interim stay. He had come forward to substitute in the place of Laxmi Vilas Bank which is the first Respondent only in the Appeal which was resisted by the Appellant claiming that the Reliance Assets Reconstruction Company had purchased the assets for meagre amount of Rs.1,50,00,000/-.

2. It is the submission of the learned Counsel for the Appellant that the Assets are worth about Rs.4,00,00,000/-. Therefore, they have objection to substitute the Reliance Assets Reconstruction Company in the place of Laxmi Vilas Bank.

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SATHI KUMAR SUKUMARA KURUP,J.

3. Considering the submission on both parties, the Petition filed by the Appellant in A.S.No.495 of 2022 in CMP.No.25157 of 2024 seeking to implead Reliance Assets Reconstruction Company as second Respondent having been allowed, this Petition filed by the Reliance Assets Reconstruction Company seeking to substitute in the place of Lakshmi Vilas Bank, the sole Respondent is closed.

08.11.2024 (2/3) dh 2/3

C.M.P.No.17559 of 2024 and A.S.No.495 of 2022 3/3