Bikki Raveendra Babu, Member - (1.) Respondents No. 4 to 7 in T.P. No. 61 of 2016 filed this Application under Rule 11 read with Rule 154 and 155 of the National Company Law Tribunal Rules, 2016 seeking modification in the order dated 22nd March, 2017.
(2.) The facts, in brief, that are germane for the disposal of this Application are as follows; 2.1. T.P. No. 61 of 2016 (CP No. 16 of 2014) was disposed of by the Company Law Board by its order dated 15.12.2014 basing upon the Consent Terms which are embodied in Annexures "A" and "B". Thereafter, there were certain disputes in implementation of the Consent Terms. That made Petitioners No. 2 to 4, Respondents No. 4 to 7, Respondents No. 1 and 3 and Respondent No.2 to file applications seeking directions from the Company Law Board which were transferred to this Tribunal. This Tribunal, after hearing elaborate arguments, passed Common Order in all those Applications on 22nd March, 2017.
(3.) Now, Respondents No. 4 to 7 filed this Application i. to recall and modify the order dated 22nd March, 2017 in order to hold that Respondents No. 2 and 3 have committed breach of Clause 4, Clause 7 and Clause 8 of Annexure "B"; ii. to recall and modify Paras, 42, 43, 48 and 50 of the order dated 22.3.2017 to the extent as stated in Paras A, B, C, D, E and F of the Petition; iii. to recall the direction to deposit entire sale consideration by demand draft in the name of Respondent No.l Company with the Registry of this Tribunal on or before 13.7.2017 as the same was not contemplated in the Consent Terms Annexure "B".;