D N V Srinivasa Raju vs Idbi Bank Limited

IN THE MATTER OF: D.N.V. Srinivasa Raju, Suspended Director HIL (India) Ltd. ...Appellant Versus IDBI Bank Ltd. & Anr. ...Respondents

Present: For Appellant : Mr. Chetan Sharma, ASG with Mr. Abhijeet Sinha, Sr. Advocate with Mr. Yashvardhan, Mr. Abhishek Gupta, Ms. Smita Kant, Ms. Kritika Nagpal, Mr. Devesh Mohan, Mr. Gyanendra Shukla and Mr. Pranav Das, Advocates.

For Respondents : Mr. Sanjay Bajaj and Mr. Shivam Takkar, Advocates for R-1.

ORDER

(Hybrid Mode)

04.09.2025 : I.A. No. 5197/2025

1. This is an application filed on behalf of the appellant praying for various

directions.

2. Learned counsel for the ASG Mr. Chetan Sharma appearing for the

applicant submits that the corporate debtor being a government company

which is taking steps to liquidate the debt of the financial creditor, the ex-

director of the company, who all are government employees be permitted to

participate in the Inter-Ministerial Meetings to find out solution with respect

to debts of the financial creditor.

3. We are of the view that to the extent of the prayer that suspended

director of the corporate debtor are permitted to participate in all Ministerial Meetings to find out the solution for liquidation of debt, the said can be done,

however, the prayer to handover the management to the appellant during

pendency of the appeal cannot be accepted.

Application is disposed of.

Interim order already operating shall continue till the next date.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical) himanshu/nn

I.A. No. 5197 of 2025 in Comp. App. (AT) (Ins.) No. 1189 of 2025 2 of 2