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ICICI Bank commenced recovery proceedings against RHC Finance and others before DRT for recovery of Rs 250 crore. Seeking an intervention in the case filed by Japanese pharmacist Daiichi Sankyo for the execution of the HC's January 31 order upholding the enforceability of the 3,500 crore arbitration award against the Singh brothers and d & rsquo; Other, the bank told Judge Jayant Nath that she had equal rights to Singh's badets and that her
However, the judge ruled on the plea of the bank ICICI, asking her to return after receiving a judgment from the Debt Collection Tribunal (DRT).
ICICI Bank had initiated a recovery proceeding against RHC Finance and others before DRT for the recovery of `250 crore. The May 11 court prevented Malvinder and RHC from transferring or alienating badets until the liquidation of the action for recovery.
The application indicated that ICICI Bank and Daiichi were unsecured creditors, placed in the same manner and with the same rights. "Neither Daiichi nor any other unsecured creditor may claim any preference over the claims of others in the disbursement of the proceeds of the sale of the badets … if the proceeds of the sale of the badets are fully paid to the satisfaction of the amounts owed to Daiichi, then other unsecured creditors, such as that of ICICI Bank, would be affected, "said the bank.
Last week, the High Court had refused to suspend the transaction between Fortis Healthcare and IHH Healthcare Berhad., Creating third-party rights in Fortis trademarks, and also asked the duo to disclose all badets, antiques, art objects and paintings overseas under a sealed cover before 1 August, date of the next hearing
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