2024 Supreme(Online)(SC) 8887
SUPREME COURT OF INDIA
IDBI BANK LIMITED – Appellant
Versus
SUMIT BINANI – Respondent
C.A. No.-006518-006518 - 2024
The court upheld the dismissal of the appeal, affirming that there were no substantial grounds for interference with the prior judgment.
Headnote:(A) National Company Law Appellate Tribunal - Appeal dismissed - The court found no substantial grounds to interfere with the impugned judgment, thereby dismissing the appeal. The dismissal does not prevent the appellant from negotiating commission/service fees for bank guarantees. (Paras 1, 2)
(B) Appeal - The court clarified that the dismissal of the appeal will not bar the renewal of bank guarantees if negotiated. (Paras 1, 2)
Facts of the case:
The appeal was filed by a bank against a judgment from the National Company Law Appellate Tribunal regarding bank guarantees. The court found no grounds for interference.
Findings of Court:
The court dismissed the appeal and clarified that the dismissal does not impede negotiations regarding service fees for bank guarantees.
Issues: The main issue was whether there were sufficient grounds to interfere with the previous judgment.
Ratio Decidendi: The court ruled that the absence of substantial grounds justified the dismissal of the appeal, emphasizing the right to negotiate service fees for bank guarantees.
Result: Appeal dismissed.
ORDERDelay condoned.
We do not find any good ground and reason to interfere with the impugned judgment and hence, the present appeal is dismissed.
We, however, clarify that the dismissal of the present appeal and/or the impugned judgment will not come in the way of the appellant - IDBI Bank Limited waiving or negotiating commission/service fee payable for renewal of the bank guarantees with the Committee of Creditors/Resolution Professional.
In case the matter is negotiated and agreed, the impugned order will not come in the way and bar renewal of the bank guarantees.
Pending application(s), if any, shall stand disposed of.
..................J. (SANJIV KHANNA) ..................J. (DIPANKAR DATTA) NEW DELHI;
Digitally signed by Deepak Guglani Date: 2024.05.22 17:07:14 IST Reason:
Signature Not Verified ITEM NO.41 COURT NO.2 SECTION XVII S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS CIVIL APPEAL Diary No. 6632/2024 (Arising out of impugned final judgment and order dated 21-12-2023 in CAAT (CH) (I) No. 385/2023 passed by the National Company Law Appellate Tribunal, Chennai) VERSUS SUMIT BINANI Respondent(s) (IA No. 59808/2024 - CONDONATION OF DELAY IN FILING and IA No. 59806/2024 - EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT) Date : 17-05-2024 This matter was called on for hearing today.
HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE DIPANKAR DATTA For Petitioner(s) Mr. Akshay Sapre, Adv. Mr. Abhijeet Swaroop, Adv. Mr. Vinam Gupta, AOR Mr. Akshat Kumar, Adv. For Respondent(s) UPON hearing the counsel the Court made the following O R D E R Delay condoned.
The present appeal is dismissed in terms of the signed order.
Pending application(s), if any, shall stand disposed of.
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