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2019 Supreme(SC) 98

ROHINTON FALI NARIMAN, NAVIN SINHA
VIJAY KUMAR JAIN – Appellant
Versus
STANDARD CHARTERED BANK – Respondent


Advocates:
Advocate Appeared:
For the Appellant : Mr. Arvind Kumar Gupta, Ms. Purti Marwaha, Ms. Henna George, Ms. V.S. Lakshmi, Mr. A. Venayagam Balan, Mr. Shyam Divan, Ms. Sonia Dube, Mrs. S. Chakraborty, Ms. Kanchan Yadav, Mr. Anurag Singh, Ms. Harshita Verma, Ms. Surbhi Anand, For M/s. Legal Options, AOR
For the Respondent: Dr. Abhishek Manu Singhvi, Mr. Raunak Dhillon, Ms. Ananya Dhar Choudhury, For M/s. Cyril Amarchand Mangaldas, Mr. Faisal Sherwani, Mr. S. S. Shroff, AOR

JUDGMENT :

R.F. NARIMAN, J.

1. The present appeal arises out of an Appellate Tribunal’s judgment rejecting the appellant’s prayer for directions to the resolution professional to provide all relevant documents including the insolvency resolution plans in question to members of the suspended Board of Directors of the corporate debtor in each case so that they may meaningfully participate in meetings held by the committee of creditors [“CoC”].

2. We may take the facts of Civil Appeal No.8430 of 2018. Ruchi Soya Industries Ltd. - the corporate debtor, was incorporated on 06.01.1986. It is said to be a profit-making company in the business of processing of oil-seeds and refining crude oil for edible use. In September, 2017, Company Petition Nos.1371 and 1372 were filed by Standard Chartered Bank Ltd. and DBS Bank Ltd., being financial creditors of the aforesaid corporate debtor. These two company petitions were admitted on 8th and 15th December, 2017, respectively, by the National Company Law Tribunal [“NCLT”]. One Shri Shailendra Ajmera of Ernst and Young was appointed as the Interim Resolution Professional in both petitions. The CoC was constituted under Section 21 of the Insolvency and


























































































































































































































































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