Court : Supreme Court of India
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.1650 OF2020Dena Bank (now Bank of Baroda) ....Appellant(s) versus C. Shivakumar Reddy and Anr. .Respondent(s) JUDGMENT Indira Banerjee, J.This Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is against a judgment and final order dated 18th December 2019 passed by the National Company Law Appellate Tribunal (NCLAT), allowing Company Appeal (AT) (Insolvency) No.407 of 2019, filed by the Respondents and setting aside an order dated 21st March 2019 passed by the Adjudicating Authority/National Company Law Tribunal (NCLT), Bengaluru, whereby the Adjudicating Authority had admitted the Petition being CP(IB) No.244/BB/2018 filed by the Appellant Bank against the Respondent No.2 (Corporate Debtor) under 2 Section 7 of the IBC. The NCLAT held that the said Petition of the Appellant Bank under Section 7 of the IBC, was barred by limitation. The Respondent No.1 is a Director of the Co...
Tag this Judgment!Court : Supreme Court of India
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL No.2231 OF2021M/S ORATOR MARKETING PVT. LTD. Appellant(s) VERSUS M/S SAMTEX DESINZ PVT. LTD. Respondent(s) JUDGMENT Indira Banerjee, J.This appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the IBC) is against the final judgment and order of the National Company Law Appellate Tribunal (NCLAT), New Delhi in Company Application (AT)(Insolvency) No.1064 of 2020 dated 08-03- 2021, whereby the NCLAT has been pleased to dismiss the appeal of the Appellant and confirmed the order dated 23.10.2020 of the Adjudicating Authority, i.e., the National Company Law Tribunal (NCLT), New Delhi, dismissing the petition being CP(IB) No.908/ND/2020, filed by the Appellant under Section 7 of the IBC with the finding that the Appellant is not a financial creditor of the Respondent. The Appellant is an assignee of the debt in question. 22. The short question involved in this Ap...
Tag this Judgment!Court : Supreme Court of India
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL ORIGINAL JURISDICTION TRANSFERRED CASE (CIVIL) No.245/2020 LALIT KUMAR JAIN .PETITIONER(S) VERSUS UNION OF INDIA & ORS. ..RESPONDENT(S) WITH W.P.(C) No.117/2021, W.P.(C) No.1371/2020, W.P.(C) No.1420/2020, W.P.(C) No.1353/2020, T.P.(C) No.1252/2020, W.P.(C) No.1276/2020, W.P.(C) No.1287/2020, T.P. (C) No.1285/2020, T.P.(C) No.1325/2020, W.P.(C) No.1364/2020, T.C.(C) No.257/2020, W.P.(C) No.1434/2020, W.P.(C) No.38/2021, W.P.(C) No.1419/2020, T.P.(C) No.1202/2020, T.P.(C) No.1220/2020, T.P.(C) No.1203/2020, T.P.(C) No.1193/2020, T.P.(C) No.1196/2020, T.P.(C) No.1289/2020, T.P.(C) No.1323/2020, T.P.(C) No.1333/2020, T.P.(C) No.1292/2020, T.P.(C) No.1299/2020, T.P.(C) No.1331/2020, W.P. (C) No.1342/2020, T.P.(C) No.1339/2020, W.P.(C) No.1348/2020, W.P.(C) No.1344/2020, W.P.(C) No.1343/2020, T.C.(C) No.250/2020, T.C.(C) No.251/2020, T.C. (C) No.247/2020, T.C.(C) No.253/2020, T.C.(C) No.252/2020, T.C.(C) No.248/2020, T.C.(C) No.254/2020, T.C....
Tag this Judgment!Court : Supreme Court of India
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE/ORIGINAL JURISDICTION CIVIL APPEAL NO.8129 OF2019GHANASHYAM MISHRA AND SONS PRIVATE LIMITED THROUGH THE AUTHORIZED SIGNATORY ...APPELLANT(S) VERSUS EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED THROUGH THE DIRECTOR & ORS. .... RESPONDENT(S) WITH CIVIL APPEAL NO.____1554_______ OF2021[Arising out of Special Leave Petition No.11232 of 2020]. WRIT PETITION (CIVIL) NO.1177 OF2020CIVIL APPEAL NOS.______15501553____________ OF2021[Arising out of Special Leave Petition Nos.71477150 of 2020]. JUDGMENT B.R. GAVAI, J.21. Leave granted in Special Leave Petition (Civil) Nos. 11232 of 2020 and 71477150 of 2020.2. The short but important questions, that arise for consideration in this batch of matters, are as under: (i) As to whether any creditor including the Central Government, State Government or any local authority is bound by the Resolution Plan once it is approved by an adjudicating authority under subsection (1) of Section 31 of the ...
Tag this Judgment!Court : Supreme Court of India
REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL No.2734 OF2020LAXMI PAT SURANA ...APPELLANT Versus UNION BANK OF INDIA & ANR. ...RESPONDENTS JUDGMENT A.M. Khanwilkar, J.1. Two central issues arise for our determination in this appeal, as follows: (i) Whether an action under Section 7 of the Insolvency and Bankruptcy Code, 20161 can be initiated by the financial creditor (Bank) against a corporate person (being a corporate debtor) concerning guarantee offered by it in respect of a loan account of the principal borrower, who had 1 for short, the Code 1 committed default and is not a corporate person within the meaning of the Code?. (ii) Whether an application under Section 7 of the Code filed after three years from the date of declaration of the loan account as Nonperforming Asset2, being the date of default, is not barred by limitation?.2. Briefly stated, respondent No.1 bank3 extended credit facility to M/s. Mahaveer Construction4, a proprietary firm...
Tag this Judgment!Court : Supreme Court of India
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NOS. 000554-000557 of 2021 SUMAN DEVI & ORS. .APPELLANT (S) VERSUS STATE OF UTTARAKHAND AND ORS. ....RESPONDENT(S) WITH CIVIL APPEAL No.000558 of 2021 WITH CIVIL APPEAL No.000559 of 2021 WITH CIVIL APPEAL No.000560 of 2021 WITH CIVIL APPEAL No.000561 of 2021 WITH CIVIL APPEAL NOS. 000562-000563 of 2021 JUDGEMENT S. RAVINDRA BHAT, J.Brief Facts 1. With consent of counsel for parties, the appeals were heard finally.2. The appellants, who are registered Auxiliary Nurse Midwives (hereafter ANM), complain that the Uttarakhand High Courts ruling1 regarding their ineligibility for 1By judgment dated 7th July, 2017 in Special Appeal No.156, 143, 150/2017 and other connected appeals and writ petitions 2 appointment to the cadre of Family Health Worker (hereafter FHW), Auxiliary Nurse- Midwives (hereafter ANM) and Health Supervisor (hereafter HS) is erroneous. The Government of Uttarakhand had advertised on 15.0...
Tag this Judgment!Court : Supreme Court of India
REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL No.3395 OF2020JAYPEE KENSINGTON BOULEVARD APARTMENTS WELFARE ASSOCIATION & ORS. . APPELLANT(S) VERSUS NBCC (INDIA) LTD. & ORS. . RESPONDENT(S) WITH CIVIL APPEAL No.3396 of 2020, T.C (C) Nos. 234, 235, 236, 237, 238, 239, 240, 241, 242, 243 of 2020, Civil Appeal No.1056 of 2021 @ SLP(C) No.5144 of 2021@ Diary No.18129 of 2020, Civil Appeal No.1057 of 2021 @ SLP(C) No.10543 of 2020 and Diary No.20274 of 2020 JUDGMENT Dinesh Maheshwari, J.Introductory Permission to file special leave petition(s) and leave granted in respective Petition(s) for Special Leave to Appeal.2. This batch of civil appeals, special appeals and transfer cases essentially relate to the resolution plan1 in the corporate insolvency resolution process2 under the Insolvency and Bankruptcy Code, 20163 1 Hereinafter, at some places, it has also been referred to as the plan. 2 CIRP for short. 3 Hereinafter also referred to as the Code or IBC....
Tag this Judgment!Court : Supreme Court of India
1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL No.9198 OF2019SESH NATH SINGH & ANR. ..Appellant(s) versus BAIDYABATI SHEORAPHULI CO-OPERATIVE BANK LTD AND ANR. ..Respondent(s) JUDGMENT Indira Banerjee, J.This appeal under Section 62 of the Insolvency and Bankruptcy Code 2016, hereinafter referred to as the IBC, is against a judgment and order dated 22nd November 2019, passed by the National Company Law Appellate Tribunal (NCLAT), dismissing Company Appeal (AT) (Insolvency) No.672 of 2019, filed by the Appellants, challenging an order dated 25th April 2019, of the National Company Law Tribunal (NCLT), Kolkata Bench, admitting the application filed by the Respondent No.1 as Financial Creditor, under Section 7 of the IBC being CP(IB) No.1202/KB/2018, thereby initiating 2 the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Debi Fabtech Private Ltd.2. The Corporate Debtor was inter alia engaged in the business of export of t...
Tag this Judgment!Court : Supreme Court of India
Reportable IN THE SUPREME COURT OF INDIA CIVIL APPELLATE/ORIGINAL JURISDICTION Civil Appeal No.9664 of 2019 Arun Kumar Jagatramka .... Appellant Versus Jindal Steel and Power Ltd. & Anr. .... Respondents With Writ Petition (C) No.269 of 2020 And With Civil Appeal No.2719 of 2020 1 JUDGMENT Dr Dhananjaya Y Chandrachud, J This judgment has been divided into the following sections to facilitate analysis: A Factual Background A.1 Civil Appeal 9664 of 2019 A.2 Civil Appeal 2719 of 2020 A.3 Liquidation Process Regulations, 2016 A.4 Article 32 Petition B Issues C Submissions D Analysis of the Legal Framework D.1 Ineligibility during the resolution process and liquidation D.2 Interplay : IBC liquidation and Section 230 of the Act of 2013 D.3 The Clean Slate D.4 Constitutional Validity of Regulation 2B - Liquidation Process Regulations E Epilogue F Conclusion 2 PART A A Factual Background 1 A.1 Civil Appeal 9664 of 2019 1 By its judgment dated 24 October 2019, the National Company Law 2 Appella...
Tag this Judgment!Court : Supreme Court of India
Reportable IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION Civil Appeal No.9241 of 2019 Gujarat Urja Vikas Nigam Limited .... Appellant Versus Mr. Amit Gupta & Ors. .... Respondents 1 JUDGMENT Dr Dhananjaya Y Chandrachud, J This judgment has been divided into sections to facilitate analysis. They are: A The appeal B The genesis of the PPA C Initiation of CIRP D Termination of the PPA E Proceedings before NCLT and NCLAT F Proceedings by the Successful Resolution Applicant G Submissions of counsel G.1 Submissions on behalf of the appellant G.2 Submissions on behalf of the respondents H Issues arising from the dispute I Jurisdiction of the NCLT/NCLAT over contractual disputes I.1 Section 60(5)(c): arising out of and in relation to I.2 Jurisdiction of NCLT and GERC I.3 Residuary jurisdiction of the NCLT under Section 60(5)(c) J Validity of ipso facto clauses J.1 Position of international and multilateral organisations 2 J.2 National jurisdictions J.3 Position in India K Appellan...
Tag this Judgment!