SUPREME COURT
Shri Tushar Mehta, ACJ
Indian Overseas Bank – Appellant
Versus
M/s RCM Infrastructure Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of insolvency proceedings initiation and its effects. (Para 1 , 2 , 3 , 4) |
| 2. prohibition on actions post-cirp initiation. (Para 6 , 7 , 8 , 35) |
| 3. arguments from both sides concerning mala fide intentions. (Para 9 , 10 , 11 , 12 , 14 , 20) |
| 4. legal implications on sale completion and title transfer. (Para 27 , 28 , 34) |
1. This appeal challenges the judgment dated 26th March 2021 passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (hereinafter referred to as "the NCLAT") in Company Appeal (AT) (Insolvency) No. 736 of 2020, thereby dismissing the appeal filed by the present appellant - Indian Overseas Bank, which was in turn filed challenging the order dated 15th July 2020 passed by the National Company Law Tribunal, Hyderabad Bench - 1, Hyderabad (hereinafter referred to as "the NCLT") in I.A. No.832 of 2019 in C.P. (IB) No. 601/10 / HDB / 2018, vide which the learned NCLT had allowed the application filed by the respondent No.2 herein, former Managing Director of the respondent No.1 herein - M/s RCM Infrastructure Ltd. (hereinafter referred to as the "Corporate Debtor") and set aside the sale of the assets of the Corporate Debt
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