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B. R. GAVAI, SANDEEP MEHTA
Insolvency and Bankruptcy Board of India – Appellant
Versus
Satyanarayan Bankatlal Malu – Respondent
JUDGMENT :
B.R. GAVAI, J.
| INDEX | |
| I. | FACTUAL BACKGROUND |
| II. | SUBMISSIONS |
| III. | CONSIDERATION OF STATUTORY PROVISIONS |
| IV. | CONSIDERATION OF PRECEDENTS |
| V. | CONCLUSION |
I. FACTUAL BACKGROUND
1. This appeal challenges the judgment and order dated 14th February 2022, passed by the learned Single Judge of the High Court of Judicature at Bombay in Writ Petition No. 2592 of 2021, thereby allowing the petition filed by Satyanarayan Bankatlal Malu and Ramesh Satyanarayan Malu, the Ex-Directors of M/s. SBM Paper Mills Pvt. Ltd. (hereinafter referred to as ‘the Respondents’) challenging the order dated 17th March 2021 passed by the learned Additional Sessions Judge, 58th Court in Special Case No. 853 of 2020 (‘learned Sessions Judge’ for short). The learned Sessions Judge had directed issuance of process against the Respondents on account of a Complaint filed by the Insolvency and Bankruptcy Board of India (hereinafter referred to as ‘the Appellant-Board’) under Section 236 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”) read with Sections 190, 193 and 200 of the Code of Criminal Procedure, 1973 (“Cr.P.C.) for the offences punishable
Offences punishable under Insolvency and Bankruptcy Code, 2016 having imprisonment of two years or more will have to be tried by a Special Court presided by a Sessions Judge or an Additional Sessions....
(1) Acquisition of land – Limitation Act, 1963 applies to Land Acquisition Act, 2013 – Section 24(1)(a) facilitates continuation of acquisition proceedings under 2013 Act by taking off from proceedin....
(1) Insolvency Resolution Plan – Once resolution plan is approved by Adjudicating Authority, after it is satisfied, that resolution plan as approved by Committee of Creditors (CoC) meets requirements....
The Court established that the principles of legislation by incorporation do not apply to executive orders like Office Memorandums, affecting the applicability of amended service rules.
The Special Court retains jurisdiction to try offences under Section 452 of the Companies Act, 2013 for actions occurring before the 2020 amendment, which excluded such offences from its jurisdiction....
The NCLT/NCLAT qualifies as a 'Court' under Section 195 Cr.P.C., allowing them to exercise jurisdiction regarding contempt applications under Section 340.
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