Back
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Bank of Baroda – Appellant
Versus
Shree Rajashthan Syntex Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of appeals against orders. (Para 1 , 2) |
| 2. arguments regarding the timing and process of filings. (Para 4 , 5) |
| 3. discussion on consortium members' roles. (Para 6) |
| 4. court observations on appeal merits. (Para 7 , 8) |
| 5. interpretation of msme status. (Para 10 , 11 , 12 , 13) |
| 6. mandatory vs directory provisions under ibc. (Para 14 , 15 , 16 , 17) |
| 7. statutory interpretation principles applied. (Para 18 , 19 , 20 , 21) |
| 8. consequences of statutory non-compliance. (Para 22 , 23) |
| 9. outcome regarding resolution plan compliance. (Para 24 , 25 , 26) |
| 10. final determination and directives. (Para 39) |
JUDGMENT
ASHOK BHUSHAN, J.
These Appeal(s) by Bank of Baroda, Financial Creditor of the Corporate Debtor – M/s Shree Rajasthan Syntex Ltd. have been filed challenging three different orders passed by National Company Law Tribunal, Jaipur Bench. Company Appeal (AT) (Ins.) No.888 of 2023 has been filed challenging order dated 19.04.2023 passed in CP No.(IB)- 28/7/JPR/2022, by which order Section 7 Application filed by Bank of Baroda has been disposed of noticing admission of Pre-Packed Insolvency Resolution Process (“PPIRP”) against the CD initiated vide order dated 19.04.2023
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
