HEARING REPORT

NAME OF THE CASE

COMPANY PETITION NO.

Instructions:
1. A Single document shall be maintained in respect of all I.A.s pending in a single
company petition in one forum.
2. Separate documents will have to be maintained in case of parallel proceedings before
multiple forums.
3. I.A. No. of the application shall act as the code through which the application can be
searched in the entire document eg. 321-2021 (321 of 2021).
4. The next date of hearing and last date of hearing have to be updated in the index itself
for convenience.
5. Date-wise summary of hearings to be maintained in chronological order wherein the
latest is at the top followed by earlier hearings. It means one single document for all the
cases being heard by one authority eg. Duncan NCLT one file and Duncan NCLAT
another file and so on.
6. Each summary shall inform the I.A. nos. that have been considered.
7. In case any document has been sought, the summary should explicitly mention the
same and the concerned person should coordinate with the law firm/advocate
appointed in the case.
8. In a situation where no member of the resurgent team is able to attend the hearing, for
any reason whatsoever, a summary shall be sought from the appointed law firm/
advocate and the same shall be included in the document. The summary shall mention
a note in this regard informing readers that the summary is based on the information
received from the law firm/advocate.
9. The following disclaimer/note shall be provided at the bottom of the page/end of each
hearing’s summary:
“This update/report is based upon the proceedings before the tribunal (mention the
forum before which the hearing took place) and is subject to the written order in this
regard.”
10. The hearing report should necessarily be shared with the Resolution
Professional/Liquidator in the concerned case in the group and through official Email
ID for Records.

Sample Report attached for reference and discussions

 HEARING REPORT
NAME OF THE CASE
COMPANY PETITION NO.
INDEX

S. I.A. No. Details Last Date Next Date

no. (Brief description of the application) of Hearing of Hearing
1 3172-2021 Application by Mr. Mandal-challenging 27-07-2021 06-09-2021
sale of the CD to Red Brick Consulting
Pvt. Ltd.
2 3178-2021 Application filed by TCL-UTM JV for 27-07-2021 06-09-2021
approval of release of funds by the
liquidator of UTM.
3 5323-2020 Application by erstwhile RP against Mr. 27-07-2021 06-09-2021
Mandal for funds withdrawn during
CIRP.
 HEARING REPORT
NAME OF THE CASE
COMPANY PETITION NO.

Date of hearing: 27.07.2021

NDOH: 06.09.2021

IA no. 3172-2021
This is an application filed by Mr. K.S. Mandal challenging the sale of the Corporate Debtor to
Red Brick Consulting Pvt. Ltd. on the grounds that it violates section 29A as well as section
35(1)(f) of IBC.

Notice was issued to the Liquidator and the Liquidator has been directed to file reply within 2
weeks.

IA No. 3178-2021
This is the application filed by TCL-UTM JV for approval of release of funds by the liquidator
of UTM. The Bench did not hear this application.

IA no. 5323-2020
This is the application filed by the erstwhile RP against certain amounts withdrawn by Mr.
Mandal during CIRP. The pleadings in respect of this application are complete and Adv.
Anand submitted that the said application may be taken up for final arguments.

The Bench heard the parties and directed the Railways to file a progress report. The Bench
further observed that any directions with respect to release of payments will only be made after
hearing the submissions of the Railways however, the bench directed that parties to cooperate
with each other for the purpose of completion of the project at Dausa.

“This update/report is based upon the proceedings before the tribunal (mention the forum before which
the hearing took place) and is subject to the written order in this regard.”