INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED & ORS. VS BEIGH CONSTRUCTION CO. PVT. LTD.

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Summary of the Case

  1. Details of the Parties
  • Appellant: Union of India
  • Respondents: Infrastructure Leasing and Financial Services Ltd. (IL&FS) and Others
  • Applicant in Interlocutory Applications: Infrastructure Leasing & Financial Services Ltd. (IL&FS)
  • Respondents in I.A. No. 3169 of 2023: Beigh Construction Co. Pvt. Ltd. & Others
  • Respondent in I.A. No. 5300 of 2023: Bimal Kant Choudhury, Interim Resolution Professional (IRP) of Attivo Economic Zone (Mumbai) Pvt. Ltd.
  1. Facts of the Case
  • The case pertains to disputes involving Infrastructure Leasing and Financial Services Ltd. (IL&FS), a major financial institution undergoing insolvency proceedings.
  • Two interlocutory applications were filed:
    • I.A. No. 3169 of 2023: Filed by IL&FS against Beigh Construction Co. Pvt. Ltd. and others.
    • I.A. No. 5300 of 2023: Filed by IL&FS against Bimal Kant Choudhury, the Interim Resolution Professional of Attivo Economic Zone (Mumbai) Pvt. Ltd.
  1. Issues Involved
  • I.A. No. 3169 of 2023: The dispute pertains to claims or actions involving Beigh Construction Co. Pvt. Ltd. and others, potentially relating to financial or contractual obligations under IL&FS’s insolvency framework.
  • I.A. No. 5300 of 2023: The issue revolves around IL&FS’s interactions with Bimal Kant Choudhury, the IRP of Attivo Economic Zone (Mumbai) Pvt. Ltd., likely concerning ongoing insolvency proceedings and associated claims.
  1. Judgment
  • The detailed judgment or orders are not provided in the excerpt, but the document indicates the presence of legal representatives for all parties, suggesting ongoing arguments or deliberations before the National Company Law Appellate Tribunal (NCLAT).
  • The case is being heard at the Principal Bench, New Delhi, with submissions from senior advocates and legal teams representing IL&FS and other parties.
  1. Conclusion
  • This case reflects the complex insolvency process of IL&FS, involving multiple stakeholders and disputes with third parties like Beigh Construction Co. Pvt. Ltd. and Attivo Economic Zone (Mumbai) Pvt. Ltd.
  • The tribunal’s decision in these interlocutory applications will likely address specific claims, liabilities, or procedural matters within the broader insolvency resolution framework.