Authum Investment and Infrastructure Limited vs R. K. Mohatta Family Trust

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2022 Supreme(SC) 182

B. R. GAVAI, ARAVIND KUMAR
Authum Investment and Infrastructure Limited – Appellant
Versus
R. K. Mohatta Family Trust – Respondent

Advocates Appeared:
For the Petitioner(s): Mr. K.K. Venugopal, Sr. Adv. Mr. Mahesh Agarwal, Adv. Mr. Rishi Agrawala, Adv. Mr. M.s.ananth, Adv. Mr. Pranjit Bhattacharya, Adv. Mr. Rohan Talwar, Adv. Mr. Karan Verma, Adv. Mr. Archit Jain, Adv. Mr. E. C. Agrawala, AOR Mr. Kaushik Poddar, AOR
For the Respondent(s): Mr. K.V. Viswanathan, Sr. Adv. Mr. Yohaann Limathwalla, Adv. Mr. Angad Baxi, Adv. Mr. Dheeraj Nair, AOR Ms. Ranjeeta Rohatgi, AOR Mr. E.C. Agrawala, AOR Swapnil Sapkal,Adv. Mr. Neelabh Shreesh, Adv. Mr. S. S. Shroff, AOR Mr. Suraj Chaudhary, Adv. Mr. Abhishek Singh, Adv. For M/S. K. Ashar & Co., AOR Mr. Rajesh Kumar Gautam, AOR Mr. Rajesh Gautam, Adv. Mr. Anant Gautam, Adv. Mr. Vipin Kumar, Adv. Mr. Sumit, Adv. Mr. Ritesh Chopra, Adv.

JUDGMENT :

B.R. Gavai, J.

1. Leave granted.

2. These appeals challenge the order of the High Court of Judicature at Bombay, dated 16th December 2022, vide which the High Court dismissed the Interim Application (L) No. 33514 of 2022 in Commercial Suit (L) No. 162 of 2022 filed by Reliance Home Finance Limited (hereinafter referred to as ‘RHFL’), respondent No. 2 herein, under Section 151 of the Civil Procedure Code, 1908 (for short, “CPC”), seeking approval of the Resolution Plan (for short, “RP”) pertaining to its dissolution, in light of the judgment of this Court in the case of Securities and Exchange Board of India v. Rajkumar Nagpal and Others, 2022 SCC Online SC 1119. The appeal arising out of SLP(C) No. 1078 of 2023 is filed by RHFL and appeal arising out of SLP(C) No. 411 of 2023 is filed by Authum Investment and Infrastructure Limited (hereinafter referred to as “AIIL”), a non-banking financial corporation, which had originally proposed the RP for RHFL.

3. The facts herein are taken from the appeal arising out of SLP(C) No. 411 of 2023 filed by AIIL, which, in brief, are as follows:

3.1 RHFL executed a number of Debenture Trust Deeds, of which nine were executed with the IDBI Tr

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2022 Supreme(SC) 182

B. R. GAVAI, ARAVIND KUMARAuthum Investment and Infrastructure Limited – AppellantVersusR. K. Mohatta Family Trust – Respondent

B. R. GAVAI, ARAVIND KUMAR
Authum Investment and Infrastructure Limited – Appellant
Versus
R. K. Mohatta Family Trust – Respondent