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W.P.(C) 16884/2022
JEEVAGAN NARAYANA SWAMI NADAR SUSPENDED DIRECTOR OF SINNAR THERMAL
POWER LIMITED ..... Petitioner
Through: Mr. Bharath Gangadharan & Mr. Jayant Bajaj, Advocates.
(M:9810436518)
Through: Mr. Chandrashekar A. Chakalabbi, Mr. Anshul Rai, D. Girish Kumar, Mr. Anupam Jain, Advocates for R-3
(M-9361962423)
JUDGMENT
1. This hearing has been done through hybrid mode.
2. This matter has been taken up upon mentioning, due to an error in the appearance in the order dated 12th December, 2022. The correct appearance is recorded as reflected above and the order dated 12th December, 2022 stands modified to this effect.
3. It is also pointed out that paragraph 12 of the order dated 9th December, 2022, consists of a typographical error. The same reads:
4. It is submitted that the fifth line of paragraph 12 of the order dated 9th December, 2022 ought to read as under: “12. Accordingly, it is directed that invocation of the bank guarantees shall not be given effect to by the banks till 4th January, 2023. If an application before the NCLT is filed by the Petitioner by the said date i.e., 4th January, 2023, the protection granted qua encashment of the bank guarantees shall continue till the date of first listing before the NCLT. It is reiterated that the banks shall not encash the bank guarantees and if the same have been encashed, the amounts shall not be disbursed to SECL. This shall be subject to any order that may be passed by NCLT in the application to be filed by the Petitioner.”
5. Let the above correction be carried out. The order dated 12th December, 2022 stands modified in the above terms.
6. Let the present order be uploaded as corrigendum to the orders dated 9th December, 2022 and 12th December, 2022.
PRATHIBA M. SINGH, J DECEMBER 20, 2022 dj/ad