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HRISHIKESH ROY, SUDHANSHU DHULIA, S. V. N. BHATTI
Independent Sugar Corporation Ltd. – Appellant
Versus
Girish Sriram Juneja – Respondent
| Table of Content |
|---|
| 1. statutory appeals under ibc (Para 1 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28) |
| 2. key parties involved (Para 2) |
| 3. arguments by insco (Para 18) |
| 4. nclat's interpretation (Para 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39 , 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49 , 50 , 51 , 52 , 53 , 54 , 55 , 56 , 57 , 58 , 59 , 60 , 61 , 62 , 63 , 64 , 65 , 66 , 67 , 68 , 69 , 70 , 71 , 72 , 73 , 74 , 75 , 76 , 77 , 78 , 79 , 80 , 81 , 82 , 83 , 84 , 85 , 86 , 87 , 88 , 89 , 90 , 91 , 92 , 93 , 94 , 95 , 96 , 97 , 98 , 99 , 100 , 101 , 102 , 103 , 104 , 105 , 106 , 107 , 108 , 109 , 110 , 111 , 112 , 113 , 114 , 115 , 116 , 117 , 118 , 119 , 120 , 121 , 122 , 123 , 124 , 125 , 126 , 127 , 128 , 129 , 130 , 131 , 132 , 133 , 134 , 135 , 136 , 137 , 138 , 139 , 140 , 141 , 142 , 143 , 144 , 145 , 146 , 147 , 148 , 149 , 150 , 151 , 152 , 153 , 154) |
| 5. final orders of the court (Para 155 , 156 , 157 , 158) |
JUDGMENT :
Hrishikesh Roy, J.
| Table of Contents |
| FACTUAL MATRIX |
| SUBMISSIONS |
| DISCUSSION & ANALYSIS |
| Objections on Locus Standi |
| Proviso to Section 31(4) |
The court ruled that the requirement for CCI approval under Section 31(4) of the IBC is directory, allowing for post-approval compliance to avoid stalling the CIRP.
The court ruled that non-compliance with mandatory provisions of the Insolvency and Bankruptcy Code rendered the Resolution Plan invalid, necessitating liquidation of the Corporate Debtor.
Corporate Insolvency Resolution Process – Scope of judicial interference – When concurrent view has been taken by two adjudicating authorities, unless it is found that such a view was in ignorance of....
Corporate Insolvency Resolution Process – Adjudicating authority (NCLT) or appellate authority (NCLAT) can sit in appeal over commercial wisdom of Committee of Creditors (“CoC”) – There is need for m....
The rejection of a Resolution Plan must comply with statutory requirements, and commercial wisdom of the Committee of Creditors is paramount, limiting the adjudicatory review.
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