Eva Agro Feeds Private Limited vs Punjab National Bank

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(SC) 840

B. V. NAGARATHNA, UJJAL BHUYAN
Eva Agro Feeds Private Limited – Appellant
Versus
Punjab National Bank – Respondent

Advocates appeared:
For the Appellant(s) : Mr. Parag Maini, Adv. Mr. Varun Lamba, Adv. Mr. Raghav Chadha, Adv. Ms. Nishtha Kumar, AOR Ms. Ira Mahajan, Adv.
For the Respondent(s) Mr. Rajesh Kumar Gautam, AOR Mr. Anant Gautam, Adv. Mr. Samir Mudgil, Adv. Mr. Sumit Sharma, Adv. Ms. Anani Achumi, Adv. Mr. Dinesh Sharma, Adv. Ms. Shivani Sagar, Adv. Mr. Krishnaraj Thaker, Adv. Ms. Pallavi Langar, AOR Mr. Siddhartha Bhatnagar, Sr. Adv. Mr. Ashish Choudhury, Adv. Mr. Akash Agarwal, Adv. Mr. Rahul Arya, Adv. Mr. Aditya Sidhra, Adv. Mr. Rohit Amit Sthalekar, AOR

Table of Content
1. overview of case background and procedural history. (Para 2 , 3)
2. court's analysis regarding auction cancellation. (Para 4 , 10 , 16 , 17 , 21 , 22 , 29 , 30 , 43)
3. arguments presented by the appellant and respondents. (Para 5)
4. details of auction process and liquidation. (Para 6)
5. decision to restore the tribunal's order, emphasizing adherence to legal principles. (Para 51)

JUDGMENT :

UJJAL BHUYAN, J.

1. Application (I.A. No. 14220 of 2022) for intervention is allowed.

2. This appeal has been preferred under Section 62 of The Insolvency and Bankruptcy Code , 2016 (hereinafter referred to as the ‘Code’) against the order dated 30.11.2021 passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (briefly ‘the Appellate Tribunal’ hereinafter) allowing the appeal of Punjab National Bank i.e. Respondent No. 1 being Company Appeal (AT) (Insolvency) No. 757 of 2021. The aforesaid appeal was filed by the Punjab National Bank against the order dated 12.08.2021 passed by the National Company Law Tribunal, Kolkata Digitally signed by Bench, Kolkata (briefly the ‘Tribunal’ hereinafter) in I.A. (IB) No. 663/KB/2021 in CP (IB) 440/KB/2018.

3. At the out

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2023 Supreme(SC) 840

B. V. NAGARATHNA, UJJAL BHUYANEva Agro Feeds Private Limited – AppellantVersusPunjab National Bank – Respondent

B. V. NAGARATHNA, UJJAL BHUYAN
Eva Agro Feeds Private Limited – Appellant
Versus
Punjab National Bank – Respondent