SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2019 Supreme(SC) 385

ROHINTON FALI NARIMAN, VINEET SARAN
Dharani Sugars And Chemicals Limited – Appellant
Versus
Union of India – Respondent


Advocates Appeared:
For Parties: Mr. Rakesh Dwivedi, Sr. Adv. Mr. Vivek Shetty, Adv. Mr. Jahan Chokshi, Adv. Ms. Liz Mathew, AOR Ms. Sansriti Pathak, Adv. Mr. Eklavya Dwivedi, Adv. Mr. Navneet R., Adv. Mr. Raghav Mehrotra, Adv. Mr. Siddharth Iyer, Adv. Mr. S.B. Upadhyay, Sr. Adv. Mr. Kaustubh Shukla, AOR Mr. Ankit Pandey, Adv. Mr. Abhay Singh, Adv. Mr. Parijat Kishore, Adv. Mr. Hasan Murtaza, Adv. Mr. Nischal Gupta, Adv. Mr. Neeraj Kishan Kaul, Sr. Adv. Mr. Samar Kachwaha, Adv. Ms. Chanan Parwani, Adv. Ms. Shalini Kaul, AOR Ms. Divya Kapur, Adv. Mr. Neeraj Kishan Kaul, Sr. Adv. Mr. Pranaya Goyal, AOR Mr. Aman Gandhi, Adv. Mr. Deepak Joshi, Adv. Mr. Devanshu Sajlan, Adv. Mr. Akash Lamba, Adv. Mr. Abhishek Sharma, Adv. Mr. Yash Badkur, Adv. Mr. P.S. Narasimha, Sr. Adv. Mr. Ananga Bhattacharyya, Adv. Mr. Rohit Rao N., Adv. Devahuti Tamuli, Adv Mr. Shourya Garg, Adv. For M/s. Veritas Legis, AOR Mr. Bishwajit Dubey, Adv. Ms. Srideepa Bhattacharyya, Adv. Mr. Aditya Marwah, Adv. Ms. Ruchi Choudhuri, Adv. Mr. Manpreet Lamba, Adv. For M/s. Cyril Amarchand Mangaldas, AOR Mr. Arvind Kumar Gupta, Adv. Mrs. Purti Marwaha, Adv. Mrs. Henna George, Adv. Mrs. V.S. Lakshmi, Adv. Mr. A.V. Balan, AOR Mr. Ajay Bhargava, Adv. Wamika Trehan, Adv. Ms. Maithili Moondra, Adv. Mr. E.C. Agrawala, AOR Mr. Anand Shankar Jha, AOR Mr. Arpit Gupta, Adv. Mr. Udit Kishan, Adv. Mr. Pulkit Deora, Adv. Mr. M.N. Mukunda, Adv. For M/s. Udit Kishan And Associates, AOR Mr. Sudarsh Menon, AOR Ms. Nimisha Menon, Adv. Ms. Pragya Ohri, Adv. Mr. Abhirup Dasgupta, Adv. Mr. Ishaan Duggal, Adv. Mr. Mohit D. Ram, AOR Mr. Arvind Kumar Shukla, Adv. Ms. Reetu Sharma, Adv. Mr. Kunal Yadav, Adv. Mrs. Neena Shukla, Adv. Mr. Nihal Ahmad, Adv. Mr. N.K. Gaur, Adv. Mr. Hardik Luthra, Adv. Mr. Alok Shukla, AOR Ms. Reetu Sharma, AOR Ms. Neena Shukla, Adv. Ms. Rakee Garg, Adv. Ms. Meera Mathur, AOR Mr. Rahul Kumar, Adv. Ms. Hima Lawrence, AOR Mr. Vikram Hegde, Adv. Mr. Chanchal Kumar Ganguli, AOR Mr. Naresh Kaushik, Adv. Mr. Vardhman Kaushik, Adv. Mr. Rahul Sharma, Adv. Mr. Manoj Joshi, Adv. Mr. B. Purushothama Reddy, Adv. Mr. Omungraj Gupta, Adv. Rebbeca Dais, Adv. Devik Singh, Adv. Mrs. Lalita Kaushik, AOR Mr. P.V. Dinesh, Adv. Ms. T.P. Sindhu, Adv. Mr. Mukund P. Unny, Adv. Mr. Bineesh K., Adv. M/s. Indialaw, AOR Mr. Som Raj Choudhury, AOR Mr. Prashant Kumar, Adv. Mr. Rajesh Kr. Gautam Adv. Mr. Anant Gautam, Adv. Ms. Khushboo Aggarwal, Adv. Mr. Anmol Mehta, Adv. Mr. Rajesh Kumar-I, AOR Mr. Birjesh Kumar Sinha, AdvMr. Birjesh Kumar Sinha, Adv. Mr. Hitesh Kumar Sharma, Adv. Ms. Meetali Patel, Adv. Mr. Arvind Kumar Sharma, AOR Mr. Alok Dhir, Adv. Ms. Maneesha Dhir, Adv. Mr. Ashu Kansal, Adv. Ms. Varsha Banerjee, Adv. Mr. Karan Batura, Adv. Mr. Milan Singh Negi, Adv. Ms. Stuti Vatsa, Adv. Mr. Kunal Godhwani, Adv. Mr. T. V. S. Raghavendra Sreyas, AOR Mr. Shikhil Suri, Adv. Mr. Shiv Kumar Suri, AOR Ms. Shilpa Saini, Adv. Ms. Vinishma Kaul, Adv. Mr. Prasanna S., Adv. Mr. Aakarsh Kamra, AOR Mr. Gaurav Aggarwal, AOR Mr. Suresh Dobhal, Adv. Ms. Sonakshi Dhiman, Adv. Mr. Prarthna Dogra, Adv. Mr. E.R. Kumar, Adv. Mr. D.P. Mohanty, Adv. Ms. Sonal Gupta, Adv. Mr. Ishan Nagar, Adv. Mr. Raghav Bansal, Adv. For M/s. Parekh & Co., AOR Mr. Vipin Kumar Jai, AOR Mr. Dushyant Parashar, Adv. Mr. Vipul Jai, Adv. Shailly Dinkar, Adv. Ms. Praveena Gautam, AOR Mr. Pawan Shukla, Adv. Mr. Jitesh P. Gupta, Adv. Mr. Raja Ram, Adv. Mr. Sanjay Kapur, AOR Ms. Megha Karnwal, Adv. Mr. Bharath Gangadharan, Adv. Mr. Kauser Husain, Adv. Ms. Shubhra Kapur, Adv. Mr. Anil Kumar Sangal, AOR Mr. Siddharth Sangal, Adv. Ms. Nilanjani Tandon, Adv. Mr. Chandrashekhar A. Chakalabbi, Adv. Mr. S.K. Pandey, Adv. Mr. Awanish Kumar, Adv. Mr. Anshul Rai, Adv. For M/s. Dharmaprabhas Law Associates, AOR Ms. Vandana Sehgal, AOR Attorney General For India Mr. Nikhil Jain, AOR Mr. Balaji Srinivasan, AOR Ms. Diksha Rai, AOR Mr. Rajiv Shankar Dvivedi, AOR Mr. Vanshdeep Dalmia, AOR Ms. Kusum Lata, AORMr. Pukhrambam Ramesh Kumar, AOR Mr. O. P. Gaggar, AOR Ms. Astha Sharma, AOR Mr. Rajesh Singh, AOR Mr. Brijesh Kumar Tamber, AOR Mr. Rabin Majumder, AOR Dr. Vinod Kumar Tewari, AOR Ms. Suruchii Aggarwal, AOR Mr. Ashish Rana, AOR Mr. T. Mahipal, AOR Mr. Arun Aggarwal, AOR Ms. Divya Roy, AOR Mr. Rajesh P., AOR Mrs. Anil Katiyar, AOR Mr. Puneet Singh Bindra, AOR Garima Bajaj, AOR Mr. Abhishek Agarwal, AOR Mr. Neeraj Shekhar, AOR Mr. Satish Kumar, AOR Mr. Divyam Agarwal, AOR Mr. S. S. Shroff, AOR Ms. Usha Nandini V., AOR

JUDGMENT :

R.F. Nariman, J.

The present batch of petitions and transferred cases raise questions as to the constitutional validity of Sections 35AA and 35AB of the Banking Regulation Act, 1949 ["Banking Regulation Act"] introduced by way of amendment w.e.f. 04.05.2017. The real bone of contention is a Reserve Bank of India ["RBI"] Circular issued on 12.02.2018, by which the RBI promulgated a revised framework for resolution of stressed assets. The important clauses of the aforesaid circular are set out here-in-below:

"Resolution Framework of Stressed Assets - Revised

1. The Reserve Bank of India has issued various instructions aimed at resolution of stressed assets in the economy, including introduction of certain specific schemes at different points of time. In view of the enactment of the Insolvency and Bankruptcy Code, 2016 (IBC), it has been decided to substitute the existing guidelines with a harmonised and simplified generic framework for resolution of stressed assets. The details of the revised framework are elaborated in the following paragraphs.

1. Revised Framework

A. Early




































































































































































































































































































































Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

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

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top