Contents at a glance About the author. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii Table of contents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xi Author’s Note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii How to Prepare for Case Law Questions?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xix Tips for Passing Limited Insolvency Examination. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxi Examination Syllabus. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxiii Cases with section reference under Insolvency and Bankruptcy Code, 2016 (NCLT Cases). . . . . xxvii Cases with section reference under Insolvency and Bankruptcy Code, 2016 (NCLAT Cases) . . xxviii Cases with section reference under Insolvency and Bankruptcy Code, 2016 (High Court Cases). . . . xxix Cases with section reference under Insolvency and Bankruptcy Code, 2016 (Supreme Court Cases). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxx Section-wise cases under Insolvency and Bankruptcy Code, 2016 . . . . . . . . . . . . . . . . . . . . . . . . xxxii Terminology used in the book. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xliii SECTION I
CASE ANALYSIS A.
Analysis of National Company Law Tribunal Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
B.
Summary of Analysis of National Company Law Tribunal Cases under the Insolvency and Bankruptcy Code, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
C.
Analysis of National Company Law Appellate Tribunal Cases . . . . . . . . . . . . . . . . . . . . . . 73
D.
Summary of Analysis of National Company Law Appellate Tribunal Cases under the Insolvency and Bankruptcy Code, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
E.
Analysis of High Court Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139
F.
Summary of Analysis of High Court Cases under the Insolvency and Bankruptcy Code, 2016.183
G.
Analysis of Supreme Court Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189
H.
Summary of Analysis of Supreme Court Cases under the Insolvency and Bankruptcy Code, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323 SECTION II
REVISIONARY EXERCISES A.
Revisionary Exercises based on Issues in Case Laws. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 339
B.
Answer Keys to Revisionary Exercises I to X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 351
C.
Revisionary Exercises based on Ratios in Case Laws. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 355
D.
Answer Keys to Revisionary Exercises XI to XX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 367 ix
Analysis of Cases for Limited Insolvency Examination
SECTION III
MULTIPLE CHOICE QUESTIONS (MCQS) A.
MCQs on NCLT Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 373
B.
Answer Key to MCQ on NCLT Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 397
C.
MCQs on NCLAT Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 401
D.
Answer Key to MCQ on NCLAT Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 423
E.
MCQs on High Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 427
F.
Answer Key to MCQ on High Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 443
G.
MCQs on Supreme Court Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 447
H.
Answer Key to MCQ on Supreme Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 473 SECTION IV
PRACTICE EXAMS Practice Exam # I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 479 Practice Exam # II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 486 Practice Exam # III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492 Practice Exam # IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 499 Practice Exam # V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 505 Practice Exam # VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 511 Practice Exam # VII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 517 Practice Exam # VIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 523 Practice Exam # IX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 529 Practice Exam # X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 535 Answer Keys to Practice Exams. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 541
x
Table of contents About the author. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii Contents at a glance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix Author’s Note . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii How to Prepare for Case Law Questions?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xix Tips for Passing Limited Insolvency Examination. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxi Examination Syllabus. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxiii Cases with section reference under Insolvency and Bankruptcy Code, 2016 (NCLT Cases). . . . . xxvii Cases with section reference under Insolvency and Bankruptcy Code, 2016 (NCLAT Cases) . . xxviii Cases with section reference under Insolvency and Bankruptcy Code, 2016 (High Court Cases). . . . xxix Cases with section reference under Insolvency and Bankruptcy Code, 2016 (Supreme Court Cases). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxx Section-wise cases under Insolvency and Bankruptcy Code, 2016 . . . . . . . . . . . . . . . . . . . . . . . . xxxii Terminology used in the book. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xliii SECTION I
CASE ANALYSIS A.
Analysis of National Company Law Tribunal Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1. Corporation Bank Vs. Amtek Auto Ltd. & Others [CA No. 567/2018 & 601/2018 in C.P. (1B) No.42/Chd/Hry/2017] . . . . . . . . . . . . . . . . 5 2. SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastructure Limited [M.A 1280/2018 in C.P. 405/ 2018] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 3. State Bank of India Vs. ARGL Limited [C.P. NO. (IB)-53l(PB)/2017]. . . . . . . . . . . . . 14 4. Essar Steel Asia Holdings Ltd. & Ors. Vs. Satish Kumar Gupta & Ors. [IA 430 of 2018 in C.P. (I.B) No. 39 & 40/NCLT/AHM/2017]. . . . . . . . . . . . . . . . . . . 18 5. Asset Reconstruction Company (India) Limited (ARCIL) Vs. Viceroy Hotels Limited [CP (IB) No. 219/7 /HDB/2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 6. M/s Edelweiss Asset Reconstruction Co. Ltd. Vs. AML Steel & Power Ltd. [MA No. 630/2018 in CP/632/IB/2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 7. M/s. Belthangady Taluk Rubber Grower’s Marketing &Processing Co-operative Society Limited Vs. M/s. Falcon Tyres Ltd. [C.P. (IB) No.01/BB/2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 8. State Bank of India Vs. Coastal Projects Ltd. [CP(IB) No. 593/KB/2017]. . . . . . . . . . 34 9. M/s. Merchem Limited (Nitrex Chemicals India Limited) Vs. Mr. Ravindra Beleyur and Ors. [MA/523/2018 in CP/689/IB)/CB/2017]. . . . . . . . . . . . . . . . . . . . . . 37 10. Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited [IA No. 905/KB/2018 in CP(IB) No.110/KB/2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
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Analysis of Cases for Limited Insolvency Examination
11. SS Chockalingam Vs. Nag Yang Shoes Pvt. Ltd. [MA/661/2018 in TCP/431/IB/2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 12. Mr. Rakesh Pandey Vs. JHV Distilleries and Sugar Mills Limited [C.P. (IB) No.221/KB/2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 13. SKDJ Dream Home Private Limited Vs. Avinash Raj Constructions Private Limited [CP(IB)No.994/KB/2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 14. The Regional Provident Fund Commissioner – I Vs. M/s. Karpagam Spinners Private Limited and Anr. [MA/99/2018 in TCP/225 (IB)/2017] . . . . . . . . . . . . . . . . . . 49 15. Small Industries Development Bank of India Vs. Tirupati Jute Industries Ltd. [CP (IB) No. 508/KB/2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 16. Asset Reconstruction Company (India) Pvt. Ltd. Vs. Shivam Water Treaters Pvt. Ltd. [CP (IB)-1882/MB/2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 17. (Mr. Dhinal Shah, Resolution Professional) Edelweiss Asset Reconstruction Company Ltd. Vs. Bharati Defence and Infrastructure Ltd. [MA/170/2018 in CP/292/I&B/NCLT/MAH/2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 B.
Summary of Analysis of National Company Law Tribunal Cases under the Insolvency and Bankruptcy Code, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
C.
Analysis of National Company Law Appellate Tribunal Cases. . . . . . . . . . . . . . . . . . . . 73 1. Edelweiss Asset Reconstruction Company Ltd. Vs Synergies Dooray Automotive Ltd. & Ors. [CA (AT) (Insolvency) No. 169 to 170-2017]. . . . . . . . . . . . . 75 2. Consolidated Engineering Company & Anr. Vs. Golden Jubilee Hotels Pvt. Ltd. [Company Appeal (AT) (Insolvency) No.501 of 2018] . . . . . . . . . . . . . . . . . . . . . 81 3. SKS Power Generation Chattisgarh Limited Vs. Mr. V Nagarajan [Company Appeal (AT) (Insolvency) No. 206 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 4. Export Import Bank of India Vs. CHL Limited [Company Appeal (AT) (Insolvency) No. 51 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . . 86 5. Mr. Rajendra K. Bhuta Resolution Professional (For Guruashish Construction Private Limited) Vs. Maharashtra Housing and Area Development Authority [Company Appeal (AT) (Insolvency) No. 119 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . 92 6. Gammon India Ltd. Vs. Neelkanth Mansions and Infrastructure Pvt. Ltd [Company Appeal (AT) (Insolvency) No. 698 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . 95 7. S. C. Sekaran Vs. Amit Gupta &Ors [Company Appeal (AT) (Insolvency) No. 495 & 496 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 8. Era Infra Engineering Limited Vs. Prideco Commercial Projects Private Limited [Company Appeals (AT) (Ins) No. 31 of 2017] . . . . . . . . . . . . . . . . . . . . . . . 102 9. Ferro Alloys Corporation Ltd. Vs. Rural Electrification Corporation Ltd. [Company Appeal (AT) (Insolvency) No. 92 of 2017, Company Appeal (AT) (Insolvency) No. 93 of 2017 & Company Appeal (AT) (Insolvency) No. 148 of 2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104 10. Dr. Vishnu Kumar Agarwal Vs M/s. Piramal Enterprises Ltd. [Company Appeal (AT) (Insolvency) No. 347 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . 109
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11. Ashok B. Jiwrajka, Director of Alok Infrastructure Ltd. Vs. Axis Bank Ltd. [Company Appeal (AT) (Insolvency) No. 683 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . 111 12. Export-Import Bank of India & Anr. Vs. Astonfield Solar (Gujarat) Pvt. Ltd. & Anr. [Company Appeal (AT) (Insolvency) No. 754 of 2018]. . . . . . . . . . . . . . . . . . . 113 13. Canara Bank Vs. Deccan Chronicle Holdings Limited [Company Appeal (AT) (Insolvency) No. 147 of 2017]. . . . . . . . . . . . . . . . . . . . . . . . . 116 14. JK Jute Mills Company Limited Vs. Surendra Trading Company [Company Appeal (AT) No. 09/2017] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 15. Committee of Creditors of Essar Steel (India) Ltd. through State Bank of India Vs. Satish Kumar Gupta &Ors [Company Appeal (AT) (Insolvency) No. 03 of 2019]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 16. M/s. P rasad Gempex Vs. Star Agro Marine Exports Pvt Ltd. [Company Appeal (AT) (Insolvency) No. 291 of 2018 & SREI Infrastructure Finance Ltd. Vs. Kannan Tiruvengandam (R.P.) & Anr [Company Appeal (AT) (Insolvency) No. 591 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . 121 17. Tata Steel Limited Vs. Liberty House Group Pvt. Ltd. & Ors [Company Appeal (AT) (Insolvency) No. 198 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . 124 D.
Summary of Analysis of National Company Law Appellate Tribunal Cases under the Insolvency and Bankruptcy Code, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
E.
Analysis of High Court Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 1. Sree Metaliks Limited and Another Vs. Union of India and Another [W.P. 7144 (W) of 2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 2. Cushman and Wakefield India Private Limited Vs. Union of India & Anr [W.P.(C) 9883/2018, CM No. 38508/2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145 3. Liberty House Group PTE Ltd. Vs. State Bank of India & Others [CS (COMM) 1246/2018 & IAs No.16056/2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . 151 4. Akshay Jhunjhunwala and Another Vs. Union of India [W.P. No. 672 of 2017]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 5. Power Grid Corporation of India Limited Vs. Jyoti Structures Limited [O.M.P (COMM.) 397/2016]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 6. Jotun India Private Limited Vs. PSL Limited [Company Petition No. 434 of 2015]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168 7. Dr. Vidya Sagar Garg Vs. Insolvency and Bankruptcy Board of India [W.P. (C) 9520/2017, CM APPL. 38726-38727/2017]. . . . . . . . . . . . . . . . . . . . . . . . . 179 8. Leo Edibles and Fats Limited Vs. The Tax Recovery Officer (Central), Income Tax Department, Hyderabad and Others [W.P. No. 8560 of 2018]. . . . . . . . . 180
F.
Summary of Analysis of High Court Cases under the Insolvency and Bankruptcy Code, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183
G.
Analysis of Supreme Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189 1. Innoventive Industries Limited Vs. ICICI Bank and Another (Civil Appeal No. 8337-8338 of 2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191
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2. Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited (Civil Appeal No. 9405 of 2017) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193 3. Surendra Trading Company Vs. Juggilal Kamlapat Jute Mills Company Limited and Others (Civil Appeal No. 8400 of 2017) with (Civil Appeal No. 15091 of 2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199 4. Alchemist Asset Reconstruction Company Limited Vs. Hotel Gaudavan Private Limited (Civil Appeal No. 16929 of 2017) . . . . . . . . . . . . . . . . . . . . . . . . . . . 201 5. Arcelormittal India Private Limited Vs. Satish Kumar Gupta & Ors. (Civil Appeal No.9402-9405 of 2018). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203 6. Macquarie Bank Limited Vs. Shilpi Cable Technologies Limited (Civil Appeal No. 15135 of 2017 with Civil Appeal No. 15481 of 2017 with Civil Appeal No. 15447 of 2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 239 7. Shivam Water Treaters Private Limited Vs. Union of India Secretary to Government Ministry of Corporate Affairs and Others (SLP (C) No. 1740/2018) . . . 247 8. B.K. Educational Services Private Limited Vs. Parag Gupta and Associates (Civil Appeal no. 2398/2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250 9. Chitra Sharma and Ors. Vs. Union of India and Ors. (Writ Petition (Civil) No 744 of 2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 10. Jaipur Metals & Electricals Employees Organization Through General Secretary Mr. Tej Ram Meena Vs. Jaipur Metals & Electricals Ltd. Through Its Managing Director & Ors. [Civil Appeal No. 12023 OF 2018] . . . . . . . . . . . . . . . 259 11. Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. [Writ Petition (Civil) No. 99 of 2018] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263 12. Forech India Ltd. Vs. Edelweiss Assets Reconstruction Co. Ltd. [Civil Appeal No. 818 of 2018] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294 13. Vijay Kumar JainVs. Standard Chartered Bank & Ors. [Civil Appeal No. 8430 of 2018] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 297 14. K. Sashidhar Vs. Indian Overseas Bank & Ors. [Civil Appeal No.10673 of 2018]. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303 15. Swaraj Infrastructure Pvt. Ltd.Vs. Kotak Mahindra Bank Ltd. [Civil Appeal No. 1291 of 2019] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310 16. K. Kishan Vs. Vijay Nirman Company Ltd. (Civil Appeal No. 21824 & 21825 of 2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 317 17. Sunrise 14A/S Denmark Vs. Ravi Mahajan (Civil Appeal Nos. 21794-21795 of 2017). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 322 H.
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Summary of Analysis of Supreme Court Cases under the Insolvency and Bankruptcy Code, 2016. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323
Table of contents
SECTION II
REVISIONARY EXERCISES A.
Revisionary Exercises based on Issues in Case Laws. . . . . . . . . . . . . . . . . . . . . . . . . . . 339 Revisionary Exercise I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 341 Revisionary Exercise II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 342 Revisionary Exercise III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 343 Revisionary Exercise IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 344 Revisionary Exercise V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 345 Revisionary Exercise VI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346 Revisionary Exercise VII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347 Revisionary Exercise VIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 348 Revisionary Exercise IX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 349 Revisionary Exercise X. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350
B.
Answer Keys to Revisionary Exercises I to X. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 351
C.
Revisionary Exercises based on Ratios in Case Laws . . . . . . . . . . . . . . . . . . . . . . . . . . 355 Revisionary Exercise XI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 357 Revisionary Exercise XII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 358 Revisionary Exercise XIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 359 Revisionary Exercise XIV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 360 Revisionary Exercise XV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 361 Revisionary Exercise XVI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 362 Revisionary Exercise XVII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 363 Revisionary Exercise XVIII . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 364 Revisionary Exercise XIX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 365 Revisionary Exercise XX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 366
D.
Answer Keys to Revisionary Exercises XI to XX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 367 SECTION III
MULTIPLE CHOICE QUESTIONS (MCQS) A.
MCQs on NCLT Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 373
B.
Answer Key to MCQ on NCLT Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 397
C.
MCQs on NCLAT Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 401
D.
Answer Key to MCQ on NCLAT Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 423
E.
MCQs on High Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 427
F.
Answer Key to MCQ on High Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 443
G.
MCQs on Supreme Court Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 447
H.
Answer Key to MCQ on Supreme Court Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 473 xv
Analysis of Cases for Limited Insolvency Examination
SECTION IV
PRACTICE EXAMS
Practice Exam # I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 479 Practice Exam # II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 486 Practice Exam # III. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492 Practice Exam # IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 499 Practice Exam # V. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 505 Practice Exam # VI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 511 Practice Exam # VII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 517 Practice Exam # VIII. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 523 Practice Exam # IX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 529 Practice Exam # X . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 535 Answer Keys to Practice Exams . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 541
xvi
Author’s Note Congratulations! on your possession of 4th Edition of ANALYSIS OF CASES FOR LIMITED INSOLVENCY EXAMINATION (Under the Insolvency and Bankruptcy Code, 2016). You have taken a step forward to your ambition of becoming an Insolvency Professional. We know cracking Limited Insolvency Examination conducted by the Insolvency and Bankruptcy Board of India is your goal. We are here to help you. The questions on case laws in the Limited Insolvency Examination carry a higher weightage. Perfect scoring in the questions from case laws and case studies will help you sail through the examination. Leaving questions from case laws and case studies unanswered is NOT an option. Many aspirants have asked the author, wherever he has spoken on the subject of Insolvency and Bankruptcy Code, 2016, the tips for remembering the case laws with reference to the issues and the decision therein. With cases numbering 59 for examination, it is rather difficult to link the case law with options available in a question. We have made your task easier by providing case analysis in a simplified manner. Each section of case analysis is followed by summary of cases in an easy to remember tabular format. The innovative revisionary exercises will help you recall what you have learnt. The bank of multiplechoice questions will reinforce your knowledge and help you crack the examination. FREE FULL ONLINE PRACTICE EXAM With this book, you get never before discount of forty percent (40%) on purchase of a pack of FIVE FULL ONLINE PRACTICE EXAMS. Use the Coupon Code stated on the front inside cover of the book for buying them at tranzission.com. You can take this examination five times. The online examination will not only time your examination but will assess your performance. At the end of each examination, you will get a transcript showing number of questions answered with a chance to review your answers. This way, you can improve your ability to get right answers in real examination. Any Doubts? We are there to remove any doubts you may have on case laws. Write to us at - info@tranzission.com. We will do our best to clarify it! Wishing you the best! Ashish Makhija
xvii
How to Prepare for Case Law Questions? The target is to have perfect score in case law questions. Let us guide you in your endeavor to do so. Follow the following steps: 1. Cracking the Limited Insolvency Examination calls for readingofInsolvency and Bankruptcy Code, 2016 and Rules and Regulations framed thereunder besides other laws as per syllabus. For case laws, the knowledge of Insolvency and Bankruptcy Code, 2016 (Code) and Rules and Regulations framed thereunder is essential. Tip # 1
Read the Code, Rules and Regulations once before reading case analysis. It will help you a lot in better understanding.
2. If you haven’t read the Code, Rules and Regulations but want to read the case analysis first, even this does not pose any problem. Keep the Code, Rules and Regulations handy while reading the caseanalysis. Tip # 2
Haven’t read the Code, Rules and Regulations. Keep them handy and refer to Section, Rule and Regulation referred to in the case analysis.
3. Once you are done with understanding the case analysis, take a break for one hour and then go through the summary tables at the end of each case analysis section. The summary helps you in linking the issues andratio. Tip # 3
Read the Summary of Case Analysis two times for better understanding. Link the concept evolved in the case with the case name.
4. At this stage make use of Online Full Practice Exam. Don’t be concerned at your score. The transcript at the end of online practice exam will inform you to review wrong answers and find out the correct answers. Analyze your performance and understand the weaknesses that remain. REMEMBER, perfect score is your TARGET. Tip # 4
Attempt Online Full Practice Exam to find out the areas you lack requiring improvement. Once you analyze your performance, go back to case analysis and make a second reading.
5. Having read the case analysis second time followed by its summary, go to the section of Revisionary Exercises based on issues and ratio of case laws. There are 20 revisionary exercises. These Revisionary Exercises have been styled in a manner to ensure that options are available at a glance. Finding the correct answer will force you to read all of them repeatedly. This helps in memorizing without making a deliberate attempt to do so. Tip # 5
After attempting 2 revisionary exercises at a stretch, take a pause of 5 to 10 minutes before going forward. Don’t check answers before you attempt all. xix
Analysis of Cases for Limited Insolvency Examination
6. Compare your effort with the answers and make a note of case laws where you answered wrongly. Read that particular case again for better recall. Tip # 6
Mark case laws which you were not able to recall. Read them once and then again, the next day.
7. Once you are confident, start attempting multiple choice questions. Multiple Choice Questions are 200 in number for all cases. This means you should have the grasp of case analysis for allcases. Tip # 7
Don’t look at the answer keys in between. Refer it once you have attempted a minimum of 50 questions at a stretch
8. Review and analyze your performance. You should be able to attempt a minimum of 75% correct answers by now. Make a list of case laws requiring furtherstudy. Tip # 8
Go back and study the case analysis again for cases listed by you. Don’t forget to read the case summary!
9. Take practice exams given in the last section. Each practice exam contains 20 questions. Time it for 30minutes. Tip # 9
10 practice exams will make you confident. Some improvement may still be required. Go back to case summary and reinforce your recall capacity.
10. You have the option to buy more case analysis and full online practice exams at tranzission. com. It is advisable to do so as you are tested in real exam situation. Tip # 10
Online practice exams are different than the book and buy more in one go to save more! Visit tranzission.com.
Happy Perfect Scoring!
xx
Tips for Passing Limited Insolvency Examination
Tips for Passing Limited Insolvency Examination Tip No. 1
Read the Code, Rules, Regulations and Other Allied Laws from the Bare Act. No book is required.
Tip No. 2
Read Case Analysis from “Analysis of Cases for Limited Insolvency Examination�, 4th Edition.While reading the analysis, refer to the Bare Act and read relevant section, rule or regulation referred therein.
Tip No. 3
Make at least three readings for proper grasp.
Tip No. 4
Practice is the key. Attempt Mock Tests or Practice Exams available at tranzission.com/shop
Tip No. 5
While taking the exam, do not answer the question if you are not sure of the answer. Negative marking may make a difference in Pass or Fail.
Tip No. 6
Read the questions carefully. The questions are couched in negative language and sometimes in double negative.
Tip No. 7
Do not be in a hurry. Two hours are sufficient time for attempting 89 questions.
Tip No. 8
Allocate more time for case analysis and case study questions as you may have to read longer texts. They are must-attempt questions as they carry higher weightage and will help you in sailing through.
Tip No. 9
While reading the Act, Rules and Regulations, concentrate on provisos and explanations.
Tip No. 10
Memorize time limits, punishments and offences as many questions are based on them.
xxi
Examination Syllabus Syllabus, Format and Frequency of Limited Insolvency Examination as specified by the Insolvency and Bankruptcy Board of India w.e.f. 1st July 2019 I.
Syllabus for Examination
The syllabus for the “Limited Insolvency Examination” is as under: Sl. No
Coverage
Weight (%)
1.
The Insolvency and Bankruptcy Code, 2016 (Entire Code)
20
2.
Rules and Regulations under the Insolvency and Bankruptcy Code, 2016
20
(All Rules and Regulations notified under the Code till 30th June, 2019) 3.
(i) The Companies Act, 2013 • Chapter III – Prospectus and Allotment of Securities • Chapter IV – Share Capital and Debentures • Chapter V – Acceptance of Deposits by Companies • Chapter VI – Registration of Charges • Chapter VII – Management and Administration • Chapter IX – Accounts of Companies • Chapter XV – Compromises, Arrangements and Amalgamations • Chapter XVII – Registered Valuers • Chapter XVIII – Removal of names of the companies from the register of companies • Chapter XX – Winding-up of the companies • Chapter XXVII – NCLT and NCLAT • Chapter XXVIII – Special Courts • Chapter XXIX – Punishments (ii) The Limited Liability Partnership Act, 2008 (Nature of LLP; Partners and their Relations; Limitation of Liability; and Financial Disclosures)
08
4.
(i) The Indian Contract Act, 1872 (Of Contracts, Voidable Contracts and Void Agreement; Contingent Contracts; Performance of Contract; Novation, Rescission and Alteration of Contracts; Agency; Consequences of breach of Contract; Indemnity and Guarantee;Surety; Bailment and Pledge; Set off); (ii) The Partnership Act, 1932;
07
xxiii
Analysis of Cases for Limited Insolvency Examination
Sl. No
Coverage
Weight (%)
(iii) The Sale of Goods Act,1930 (Sale, Condition and Warranty, Seller’s Lien and Damages); (iv) The Transfer of Property Act,1882; (v) The Specific Relief Act,1963; and (vi) The Negotiable Instruments Act, 1881 5.
(i) The Recovery of Debts due to Banks and Financial Institutions Act,1993; (ii) The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002; (iii) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009; (iv) Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009; (v) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; (vi) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015; (vii) The Arbitration and Conciliation Act, 1996; and (viii) The Limitation Act,1963
06
6.
Finance and Accounts (Corporate Finance; Financial Analysis; Liquidity Management; Tax Planning and GST)
07
7.
General Awareness: (i) Constitution of India: Right to Constitutional Remedies; provisions of Union Judiciary; provisions of High Courts in the States; (ii) Rights of Workmen under Labour Laws; (iii) Economy; (iv) Financial Markets; (v) Basic concepts of Valuation; and (vi) Forensic Audit
06
8.
Case Laws- Important Decisions of Supreme Court and High Courts, Decisions of NCLAT and NCLT relating to Corporate Insolvency Resolution, Corporate Liquidation, Voluntary Liquidation and Fast Track Resolution Process. There will be five questions carrying two marks each. (List of cases given in Annexure)
10
9.
Case Analysis on Corporate Insolvency Resolution and Liquidation. There will be one comprehension narrating a case and there will be six questions based on the case carrying two marks each.
12
xxiv
Examination Syllabus
Sl. No
Coverage
Weight (%)
10.
Case Analysis on Individual Insolvency Resolution and Bankruptcy. There will be one comprehension narrating a case and there will be four questions based on the case carrying one marks each.
04
Total
100
This syllabus will be valid for Limited Insolvency Examination w.e.f. 1st July, 2019. Note: Wherever any law, an Act of Parliament or any Rule is referred to in the syllabus, the same shall be taken as in force as on 30th June, 2019. This means that any amendment in such laws, Acts or Rules effected after 30th June, 2019 shall be ignored. II.
Format of Examination
The format of examination is as under: (a) The examination will be conducted online (computer-based in a proctored environment) with objective multiple-choice questions. (b) The duration of the examination will be two hours. (c) A candidate will be required to answer 89 questions in two hours for a total of 100 marks. (d) There will be a negative marking of 25% of the marks assigned for the question. (e) Passing mark for the examination is 60%. (f) Passing candidates will be awarded a certificate by the Board. (g) A candidate will be issued a temporary mark sheet on submission of examination paper. (h) No workbook or study material will be provided. III.
Frequency ofExamination
The frequency of Examination is as under: (a) The Examination centres are available at various locations across the country. (b) A candidate needs to enrol and register at IBBI website i.e. www.ibbi.gov.in for Examination by choosing the time, the day and the Examination centre for his Examination. (c) A candidate needs to pay Examination fee of Rs.1500 (One thousand five hundred rupees only) online on every enrolment.
xxv
Cases with section reference under Insolvency and Bankruptcy Code, 2016 (NCLT Cases) S. No. Case Title 1 Corporation Bank Vs. Amtek Auto Ltd. & Others 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastruture Limited State Bank of India Vs. ARGL Limited Essar Steel Asia Holdings Ltd. & Ors. Vs. Satish Kumar Gupta &Ors. Asset Reconstruction Company (India) Limited Vs. Viceroy Hotels Ltd. M/s Edelweiss Asset Reconstruction Co. Ltd. Vs. AML Steel & Power Ltd. M/s. Belthangady Taluk RubberGrower's Marketing & Processing Co-operative Society Limited Vs. M/s. Falcon Tyres Ltd. State Bank of India Vs. Coastal Projects Ltd. M/s. Merchem Limited (Ms. Nitrex Chemicals India Limited) Vs. Mr. Ravindra Beleyur and Ors. Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited SS Chockalingam Vs. Nag Yang Shoes Pvt. Ltd. Mr. Rakesh Pandey Vs. M/ S. JHV Distilleries and Sugar Mills Limited SKDJ Dream Home Private Limited Vs. Avinash Raj Constructions Private Limited The Regional Provident Fund Commissioner –I Vs. M/s. Karpagam Spinners Private Limited and Anr. Small Industries Development Bank of India Vs. Tirupati Jute Industries Ltd. Asset Reconstruction Company (India) Pvt. Ltd. Vs. Shivam Water Treaters Pvt. Ltd. (Mr. Dhinal Shah, Resolution Professional) Edelweiss Asset Reconstruction Company Ltd. Vs. Bharati Defence and Infrastructure Ltd.
Section(s) 7, 12, 14(1), 31, 60(5), 74(3) 7, 14(1)(a), 63, 238
Page No. 1.5
7, 13(2), 14, 15, 17, 18, 19, 20, 21 and 27 12A, 30(6), 60(5), 238 3(12), 7
1.14
1.23
19
1.29
13
1.32
7, 12, 33 29A, 30 (5), 31
1.34 1.37
5(1), 12(2), 60(2), 61 – 7(1), 33
1.40 1.42 1.44
5(8)(a), 7
1.46
39
1.49
7
1.52 –
7, 30(1), 30(1)(b), 30(2), 235A
1.11
1.18
1.54 1.56
xxvii
Analysis of Cases for Limited Insolvency Examination
Cases with section reference under Insolvency and Bankruptcy Code, 2016 (NCLAT Cases) S. No. Case Title
Section(s)
Page No.
1
Edelweiss Asset Reconstruction Co. Ltd. Vs. Synergies Dooray Automotive Ltd. &Ors.
5(24), 30(2), 30(2)(e), 31(1), 60(5)(c), 238
3.3
2
Consolidated Engineering Company & Anr. Vs. Golden Jubilee Hotels Pvt. Ltd.
24
3.9
3
SKS Power Generation Chattisgarh Ltd. Vs. V Nagarajan (in the matter of M/s Cethar Ltd. &Ors.)
43, 45, 180 and 186
3.11
4
Export Import Bank of India Vs. CHL Ltd.
7
3.14
5
Mr. Rajendra K. Bhuta Resolution Professional (For 7, 14 (1) (d) Guruashish Construction Private Limited) Vs. Maharashtra Housing and Area Development Authority
3.20
6
India Ltd. Vs. Neelkanth Mansions and Infrastructure Pvt. Ltd
9, 79(16)
3.23
7
S.C.Sekaran V Amit Gupta &Ors.
33, 33(1), 35, 38, 39 and 40
3.26
8
Era Infra Engineering Limited Vs. Prideco Commercial Projects Private Limited
8, 8(1), 9, 9(1), 9(5)
3.30
9
Ferro Alloys Corporation Ltd. Vs. Rural ElectrificationCorporation Ltd.
7
3.32
10
Dr. Vishnu Kumar Agarwal Vs. M/s Piramal Enterprise Ltd.
5(8), 7
3.37
11
Ashok B. Jiwrajka, Director of Alok Infrastructure Ltd. Vs. Axis Bank Ltd.
31
3.39
12
Export-Import Bank of India &Anr. Vs. Aston field Solar (Gujarat) Pvt. Ltd.
10, 10(3)(c)
3.41
13
Canara Bank Vs. Deccan Chronicle Holdings Limited
7, 14, 14(1)(a), 14(2)
3.44
14
JK Jute Mills Company Limited Vs. Surendra Trading Company
7 (4), 9(5) and 10(4)
3.46
15
Committee of Creditors of Essar Steel (India) Ltd. through State Bank of IndiaVs. Satish Kumar Gupta &Ors.
30 (4), 31
3.48
16
M/s. Prasad Gempex Vs. Star Agro Marine Exports Pvt Ltd. 31, 38, 39, 40 and 60 (6)
3.49
17
Tata Steel Limited Vs. Liberty House Group Pvt. Ltd. &Ors. 31
3.52
xxviii
Cases with section reference under Insolvency and Bankruptcy Code, 2016 (High Court Cases)
Cases with section reference under Insolvency and Bankruptcy Code, 2016 (High Court Cases) S. No. Case Title
Section(s) 7, 7(1), 7(4)
Page No.
1
Sree Metaliks Limited and Another Vs. Union of India
2
Cushman and Wakefield India Private Limited Vs. Union of India &Anr.
3
Liberty House Group PTE Ltd. Vs. State Bank of India 25(2)(h), 31, 63, & Others. 60(5)(c), 231 and 238
5.13
4
AkshayJhunjhunwala and Another Vs. Union of India
7, 8 and 9
5.25
5
Power Grid Corporation of India Limited Vs. Jyoti Structures Limited
14 and 14(1)(a)
5.27
6
Jotun India Private Limited Vs. PSL Limited Company 7, 8, 9, 10, 14, Petition 30(6), 31, 33(b)(i), (ii), (iii), 63, 64(2), 238, 239(1), 252 and 255
5.30
7
Dr. Vidya Sagar Garg Vs. Insolvency and Bankruptcy Board of India
–
5.41
8
Leo Edibles and Fats Limited Vs. The Tax Recovery Officer (Central),
33, 36(3)(b) and 53(1), 53(1)(e), 247
5.42
–
5.3 5.7
xxix
Analysis of Cases for Limited Insolvency Examination
Cases with section reference under Insolvency and Bankruptcy Code, 2016 (Supreme Court Cases) S. No. Case Title
Section(s)
Page No.
1
Innoventive Industries Limited Vs. ICICI Bank
7, 7(1), 8(1) and 8(2)
7.3
2
Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited
5(6), 8, 8(2) and 9
7.5
3
Surendra Trading Company Vs. Juggilal Kamlapat Jute 7(5), 9, 9(5) and Mills Company Limited and Others 10(4)
7.11
4
Alchemist Asset Reconstruction Company Limited Vs. 14 and 14(1)(a) Hotel Gaudavan Private Limited
7.13
5
Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
3(37), 7, 7(4), 7(5), 7(6), 7(7), 12, 12(1), 12(2), 12(3), 16, 17, 18(1), 21, 22, 25, 25(2)(i), 28, 29, 29A, 29A(c), 29A(g), 30, 30(2), 30(2)(e), 30(3), 30(4), 31, 33, 60(5), 61, 61(3), 62
7.15
6
Macquarie Bank Limited Vs. Shilpi Cable Technologies Limited
8, 9, 9(3) (c) and 238
7.51
7
ShivamWater Treaters Private Limited Vs. Union of India
3(12), 5(7), 6, 7, 12, 29, 62, 214 (f) , 231 and 238
7.59
8
B.K. Educational Services Private Limited Vs. Parag Gupta and
3(12), 7, 9, 14 and 238 A
7.62
Associates 9
Chitra Sharma Vs. Union of India
7, 14(1)(a), 21, 29A, 30(4), 31, 33(1) and 238
7.65
10
Jaipur Metals & Electricals Employees Organisation Through Gen. Sec. Vs. Jaipur Metals & Electricals Ltd. Through its MD & Sons
7, 8, 9, 14 and 238
7.71
xxx
Cases with section reference under Insolvency and Bankruptcy Code, 2016 (Supreme Court Cases)
S. No. Case Title
Section(s)
Page No.
11
Swiss Ribbons Pvt. Ltd. &Anr. Vs. Union of India &Ors.
7, 8, 9, 210, 12A, 29A, 29A(c), 29A(j), 21, 24, 14, 5(7), 5(8), 7(1), 7(4), 7(5), 21(6A), 21(6B), 3(9)(c), 214(e), 65, 75, 60, 30(4), 31, 30(2)(b), 18, 41, 42, 40, 28, 5(24A), 29A(h), 240(A), 53(1)(f)
7.75
12
Forech India Ltd Vs. Edelweiss Assets Reconstruction Co Ltd
7, 9,10, 11
7.106
13
Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
21, 24, 24(3)(b), 25(2)(f), 25(2)(i), 31(1), 29, 30, 61, 60(5)(c)
7.109
14
K. Sashidhar Vs. Indian Overseas Bank &Ors.
33, 34, 30(4), 30(2), 61(3), 21, 5(7), 5, 30(6), 33(1)
7.115
15
Swaraj Infrastructure Pvt. Ltd. Vs. Kotak Mahindra Bank Ltd.
–
7.122
16
K. Kishan Vs. Vijay Nirman Company Pvt. Ltd.
8, 9(5)(ii)(d), 238
7.129
17
Sunrise 14 A/S Denmark Vs. Ravi Mahajan
7, 7(3)(a)
7.134
xxxi
Analysis of Cases for Limited Insolvency Examination
Section-wise cases under Insolvency and Bankruptcy Code, 2016 S. No. Section
Case Title
1.
3(12)
(i) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court) (ii) Asset Reconstruction Company (India) Limited Vs. Viceroy Hotels Ltd. (NCLT) (iii) B.K. Educational Services Private Limited Vs. Parag Gupta and Associates (Supreme Court)
2.
5
K. Sashidhar Vs. Indian Overseas Bank & Ors. (Supreme Court)
3.
5(1)
Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited
4.
5(6)
(i) Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited
5.
5(7)
(i) K. Sashidhar Vs. Indian Overseas Bank & Ors. (Supreme Court) (ii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (Supreme Court) (iii) Shivam Water Treaters Private Limited Vs. Union of India (Supreme Court)
6.
5(7)(i)
(i) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court)
7.
5(8)(a)
SKDJ Dream Home Private Limited Vs. Avinash Raj Constructions Private Limited (NCLT)
8.
6
Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court)
9.
7
SreeMetaliks Limited Vs. Union of India and Another (Calcutta High Court) (ii) AkshayJhunjhunwala and Another Vs. Union of India and others (Calcutta HighCourt) (iii) Jaipur Metals & Electricals Employees Organisation Through Gen. Sec. Vs. Jaipur Metals & Electricals Ltd. Through its MD & Sons (iv) Innoventive Industries Limited Vs. ICICI Bank (v) State Bank of India Vs. ARGL Limited (vi) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court) (vii) BK Educational Services Private Limited Vs. Parag Gupta and Associates (Supreme Court)
xxxii
(i)
Section-wise cases under Insolvency and Bankruptcy Code, 2016
S. No. Section
Case Title (viii) Corporation Bank Vs. Amtek Auto Ltd. & Others (ix) Asset Reconstruction Company (India) Limited Vs. Viceroy Hotels Ltd. (x) Small Industries Development Bank of India Vs. Tirupati Jute Industries Ltd (xi) Export Import Bank of India Vs. CHL Ltd. (xii) Export-Import Bank of India &Anr. Vs. Aston field Solar (Gujarat) Pvt. Ltd (xiii) SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastruture Limited (xiv) State Bank of India Vs. Coastal Projects Ltd. (xv) SKDJ Dream Home Private Limited Vs. Avinash Raj Constructions Private Limited (xvi) (Mr. Dhinal Shah, Resolution Professional) Edelweiss Asset Reconstruction Company Ltd. Vs. Bharati Defence and Infrastructure Ltd. (xvii) Mr. Rajendra K. Bhuta Resolution Professional (For Guruashish Construction Private Limited) Vs. Maharashtra Housing and Area Development Authority (xviii) Ferro Alloys Corporation Ltd. Vs. Rural Electrification Corporation Ltd. (xix) Dr. Vishnu Kumar Agarwal Vs. M/s Piramal Enterprise Ltd. (xx) Canara Bank Vs. Deccan Chronicle Holdings Limited (xxi) Jotun India Private Limited Vs. PSL Limited Company Petition (xxii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (xxiii) Jaipur Metals & Electricals Employees Organisation Through Gen. Sec. Vs. Jaipur Metals & Electricals Ltd. Through its MD & Sons (xxiv) Chitra Sharma Vs. Union of India (xxv) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (xxvi) Forech India Ltd Vs. Edelweiss Assets Reconstruction Co Ltd. (xxvii) Sunrise 14 A/S Denmark Vs. Ravi Mahajan (xxviii) Canara Bank Vs. Deccan Chronicle Holdings Limited
10.
7(1)
(i) Innoventive Industries Limited Vs. ICICI Bank (ii) SreeMetaliks Limited and Another Vs. Union of India (iii) Mr. Rakesh Pandey Vs. M/ S. JHV Distilleries and Sugar Mills Limited xxxiii
Analysis of Cases for Limited Insolvency Examination
S. No. Section
Case Title
11.
7(3)(a)
Sunrise 14 A/S Denmark Vs. Ravi Mahajan
12.
7(4)
(i) JK Jute Mills Company Limited Vs. Surendra Trading Company (National Company Law Appellate Tribunal) (ii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (iii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (iv) SreeMetaliks Limited and Another Vs. Union of India
13.
7(5)
(i) Surendra Trading Company Vs. Juggilal Kamlapat Jute Mills Company Limited and others (Supreme Court) (ii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (iii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
14.
7(6)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
15.
7(7)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
16.
8
(i) AkshayJhunjhunwalaandAnother Vs. Union of India and others (Calcutta High Court) (ii) Innoventive Industries LimitedVs. ICICI Bank and Another (Supreme Court) (iii) Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited (Supreme Court) (iv) K. Kishan Vs. Vijay Nirman Company Pvt. Ltd. (v) Macquarie Bank Limited Vs. Shilpi Cable Technologies limited (vi) Era Infra Engineering Limited Vs. Prideco Commercial Projects Private Limited
17.
8(1)
Era Infra Engineering Limited Vs. Prideco Commercial Projects Private Limited (National Company Law Appellate Tribunal)
18.
9
(i) Gammon India Ltd. Vs. Neelkanth Mansions and Infrastructure Pvt. Ltd (ii) AkshayJhunjhunwala and Another Vs. Union of India and others (Calcutta HighCourt) (iii) Mobilox Innovations Private Limited Vs. Kirusa Software Private Limited (Supreme Court) (iv) BK Educational Services Private Limited Vs. Parag Gupta and Associates (Supreme Court) (v) Forech India Ltd Vs. Edelweiss Assets Reconstruction Co Ltd. (vi) India Ltd. Vs. Neelkanth Mansions and Infrastructure Pvt. Ltd (vii) Jotun India Private Limited Vs. PSL Limited Company Petition (viii) Macquarie Bank Limited Vs. Shilpi Cable Technologies Limited (ix) Jaipur Metals & Electricals Employees Organisation Through Gen. Sec. Vs. Jaipur Metals & Electricals Ltd. Through its MD & Sons (x) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
xxxiv
Section-wise cases under Insolvency and Bankruptcy Code, 2016
S. No. Section
Case Title
19.
9(1)
Era Infra Engineering Limited Vs. Prideco Commercial Projects Private Limited (National Company Law Appellate Tribunal)
20.
9(3)(c)
Macquarie Bank Limited Vs. Shilpi Cable Technologies Limited (Supreme Court)
21.
9(5)
(i) Era Infra Engineering Limited Vs. Prideco Commercial Projects Private Limited (National Company Law Appellate Tribunal) (ii) JK Jute Mills Company Limited Vs. Surendra Trading Company (National Company Law Appellate Tribunal) (iii) Surendra Trading Company Vs. JuggilalKamlapat Jute Mills Company Limited and others (Supreme Court) (iv) K. Kishan Vs. Vijay Nirman Company Pvt. Ltd.
22.
9(5)(ii)(d)
(i) K. Kishan Vs. Vijay Nirman Company Pvt. Ltd.
23.
10
(i) Jotun India Private Limited Vs. PSL Limited (Bombay High Court) (ii) Forech India Ltd Vs. Edelweiss Assets Reconstruction Co Ltd. (iii) Export-Import Bank of India &Anr. Vs. Aston field Solar (Gujarat) Pvt. Ltd.
24.
10(3)(c)
(i) Export-Import Bank of India &Anr. Vs. Aston field Solar (Gujarat) Pvt. Ltd.
25.
10(4)
(i) Surendra Trading Company Vs. JuggilalKamlapat Jute Mills Company Limited and others (Supreme Court) (ii) JK Jute Mills Company LimitedVs. Surendra Trading Company (National Company Law Appellate Tribunal)
26.
11
(i) Forech India Ltd Vs. Edelweiss Assets Reconstruction Co Ltd
27.
12
(i) Shivam water treaters private limited Vs. Union ofIndia and others (Supreme Court) (ii) Corporation Bank Vs. Amtek Auto Ltd. & Others (iii) State Bank of India Vs. Coastal Projects Ltd. (iv) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
28.
12A
(i) Essar Steel Asia Holdings Ltd. & Ors. Vs. Satish Kumar Gupta & Ors. (ii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
29.
12(1)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
30.
12(2)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (ii) Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited
31.
12(3)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
32.
13
(i) M/s. Belthangady Taluk RubberGrower's Marketing & Processing Co-operative Society Limited Vs. M/s. Falcon Tyres Ltd. xxxv
Analysis of Cases for Limited Insolvency Examination
S. No. Section
Case Title
33.
13(2)
State Bank of India Vs. ARGL Limited
34.
14
Canara Bank Vs. Deccan Chronicle Holdings Limited (National Company Law Appellate tribunal) (ii) Alchemist Asset Reconstruction Company Limited Vs. Hotel Gaudavan Private Limited (iii) Power Grid Corporation of India Limited Vs. Jyoti Structures limited (iv) State Bank of India Vs. ARGL Limited (v) Jotun India Private Limited Vs. PSL Limited Company Petition (vi) B.K. Educational Services Private Limited Vs. Parag Gupta and Associates (vii) Jaipur Metals & Electricals Employees Organisation Through Gen. Sec. Vs. Jaipur Metals & Electricals Ltd. Through its MD & Sons (viii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
35.
14(1)
(i) Corporation Bank Vs. Amtek Auto Ltd. & Others (ii) SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastruture Limited
36.
14(1)(a)
(i) Canara Bank Vs. Deccan Chronicle Holdings Limited (National Company Law Appellate tribunal) (ii) Power Grid Corporation of India Limited Vs. Jyoti Structure Limited (Delhi High Court) (iii) Alchemist Asset Reconstruction Company Limited Vs. Hotel Gaudavan Private Limited and others (Supreme Court) (iv) SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastructure Limited (v) Chitra Sharma Vs. Union of India
37.
14(1)(d)
Mr. Rajendra K. Bhuta Resolution Professional (For Guruashish Construction Private Limited) Vs. Maharashtra Housing and Area Development Authority
38.
14(2)
Canara Bank Vs. Deccan Chronicle Holdings Limited
39.
15
State Bank of India Vs. ARGL Limited
(i)
40
16
Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
41.
19
(i) State Bank of India Vs. ARGL Limited (ii) M/s Edelweiss Asset Reconstruction Co. Ltd. Vs. AML Steel & Power Ltd.
42.
20
State Bank of India Vs. ARGL Limited
xxxvi
Section-wise cases under Insolvency and Bankruptcy Code, 2016
S. No. Section
Case Title
43.
21
(i) State Bank of India Vs. ARGL Limited (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (iii) Chitra Sharma Vs. Union of India (iv) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (v) Vijay Kumar Jain Vs. Standard Chartered Bank & Ors. (vi) K. Sashidhar Vs. Indian Overseas Bank & Ors.
44.
21(6A)
(i) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
45.
21(6B)
(i) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
46.
22
Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
47.
24
(i) Vijay Kumar Jain Vs. Standard Chartered Bank & Ors. (ii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (iii) Consolidated Engineering Company & Anr. Vs. Golden Jubilee Hotels Pvt. Ltd.
48.
24(3)(b)
(i) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
49.
25(2)
(i) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
50.
25(2)(h)
(i) Liberty House Group PTE Ltd. Vs. State Bank of India & Others.
51.
25(2)(i)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (ii) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
52.
25(2)(f)
(i) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
53.
27
State Bank of India Vs. ARGL Limited
54.
29
(i) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court) (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (iii) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
55.
29A
(i) M/s. Merchem Limited (Ms. Nitrex Chemicals India Limited) Vs. Mr. Ravindra Beleyur and Ors. (ii) Chitra Sharma Vs. Union of India (iii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
56.
29A (c)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (ii) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
57.
29A(g)
Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
58.
29A(j)
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
59.
29A(h)
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
60.
30
(i) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors. (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
xxxvii
Analysis of Cases for Limited Insolvency Examination
S. No. Section
Case Title
61.
30(1)
(i) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors. (ii) (Mr. Dhinal Shah, Resolution Professional) Edelweiss Asset Reconstruction Company Ltd. Vs. Bharati Defence and Infrastructure Ltd.
62.
30(1)(b)
(i) (Mr. Dhinal Shah, Resolution Professional) Edelweiss Asset Reconstruction Company Ltd. Vs. Bharati Defence and Infrastructure Ltd.
63.
30(2)
(i) (Mr. Dhinal Shah, Resolution Professional) Edelweiss Asset Reconstruction Company Ltd. Vs. Bharati Defence and Infrastructure Ltd. (ii) Edelweiss Asset Reconstruction Co. Ltd. Vs. Synergies Dooray Automotive Ltd. &Ors. (iii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (iv) K. Sashidhar Vs. Indian Overseas Bank &Ors.
64.
30(2)(b)
(i) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
65.
30(2)(e)
(i) Edelweiss Asset Reconstruction Co. Ltd. Vs. Synergies Dooray Automotive Ltd. &Ors. (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
66.
30(3)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
67.
30(4)
(i) Committee of Creditors of Essar Steel (India) Ltd. through State BankofIndiaVs. Satish Kumar Gupta &Ors. (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (iii) Chitra Sharma Vs. Union of India (iv) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (v) K. Sashidhar Vs. Indian Overseas Bank & Ors.
68.
(30)(5)
M/s. Merchem Limited (Ms. Nitrex Chemicals India Limited) Vs. Mr. Ravindra Beleyur and Ors
69.
30(6)
(i) Jotun India Private Limited Vs. PSL Limited (Bombay High Court) (ii) Essar Steel Asia Holdings Ltd. & Ors. Vs. Satish Kumar Gupta & Ors. (iii) K. Sashidhar Vs. Indian Overseas Bank &Ors.
70.
31
(i) (ii) (iii) (iv) (v)
xxxviii
Ashok B. Jiwrajka, Director of Alok Infrastructure Ltd. Vs. Axis Bank Ltd Tata Steel Limited Vs. Liberty House Group Pvt. Ltd. &Ors. M/s. Prasad Gempex Vs. Star Agro Marine Exports Pvt Ltd. Committee of Creditors of Essar Steel (India) Ltd. through State Bank of IndiaVs. Satish Kumar Gupta &Ors Jotun India Private Limited Vs. PSL Limited (Bombay High Court)
Section-wise cases under Insolvency and Bankruptcy Code, 2016
S. No. Section
Case Title (vi) Corporation Bank Vs. Amtek Auto Ltd. & Others (vii) M/s. Merchem Limited (Ms. Nitrex Chemicals India Limited) Vs. Mr. Ravindra Beleyur and Ors. (viii) Liberty House Group PTE Ltd. Vs. State Bank of India & Others. (ix) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (x) Chitra Sharma Vs. Union of India (xi) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
71.
31(1)
(i) Vijay Kumar Jain Vs. Standard Chartered Bank & Ors. (ii) Edelweiss Asset Reconstruction Co. Ltd. Vs. Synergies Dooray Automotive Ltd. & Ors.
72.
33
Leo Edibles and Fats Limited Vs. The Tax Recovery Officer (Central), Income Tax Department (Hyderabad) and others (High Court of Judicature at Hyderabad) (iii) State Bank of India Vs. Coastal Projects Ltd (iv) Mr. Rakesh Pandey Vs. M/ S. JHV Distilleries and Sugar Mills Limited (v) State Bank of India Vs. Coastal Projects Ltd. (vi) S.C.Sekaran V Amit Gupta &Ors. (vii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (viii) K. Sashidhar Vs. Indian Overseas Bank &Ors.
73.
33(1)
(i) S.C.Sekaran V Amit Gupta &Ors. (ii) Chitra Sharma Vs. Union of India (iii) K. Sashidhar Vs. Indian Overseas Bank &Ors.
74.
33(b)(i)
Jotun India Private Limited Vs. PSL Limited (Bombay High Court)
75.
33(b)(ii)
Jotun India Private Limited Vs. PSL Limited (Bombay High Court)
76.
33(b)(iii)
Jotun India Private Limited Vs. PSL Limited (Bombay High Court)
77.
34
K. Sashidhar Vs. Indian Overseas Bank &Ors.
78.
36(3)(b)
Leo Edibles and Fats Limited Vs. The Tax Recovery Officer (Central), Income Tax Department (Hyderabad) and others
79.
39
(i) The Regional Provident Fund Commissioner –I Vs. M/s. Karpagam Spinners Private Limited and Anr. (ii) S.C.Sekaran V Amit Gupta &Ors. (iii) M/s. Prasad Gempex Vs. Star Agro Marine Exports Pvt Ltd.
80.
40
(i) Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors. (ii) M/s. Prasad Gempex Vs. Star Agro Marine Exports Pvt Ltd. (iii) S.C.Sekaran V Amit Gupta &Ors.
81.
41
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
(i)
xxxix
Analysis of Cases for Limited Insolvency Examination
S. No. Section
xl
Case Title
82.
42
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
83.
43
SKS Power Generation Chattisgarh Ltd. Vs. V Nagarajan (in the matter of M/s Cethar Ltd. &Ors.)
84.
45
SKS Power Generation Chattisgarh Ltd. Vs. V Nagarajan (in the matter of M/s Cethar Ltd. &Ors.)
85.
53(1)
Leo Edibles and Fats Limited Vs. The Tax Recovery Officer (Central), Income Tax Department (Hyderabad) and others (High Court of Judicature at Hyderabad)
86.
53(1)(e)
Leo Edibles and Fats Limited Vs. The Tax Recovery Officer (Central), Income Tax Department (Hyderabad) and others (High Court of Judicature at Hyderabad)
87.
53(1)(f)
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
88.
60
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
89.
60(2)
Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited
90.
60(5)
(i) Corporation Bank Vs. Amtek Auto Ltd. & Others (ii) Liberty House Group PTE Ltd. Vs. State Bank of India & others . (iii) Essar Steel Asia Holdings Ltd. &Ors. Vs. Satish Kumar gupta and ors. (iv) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
91.
60(5)(c)
(i) Edelweiss Asset Reconstruction Co. Ltd. Vs. Synergies Dooray Automotive Ltd. &Ors. (ii) Liberty House Group PTE Ltd. Vs. State Bank of India & Others. (iii) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
92.
60(6)
M/s. Prasad Gempex Vs. Star Agro Marine Exports Pvt Ltd
93.
61
(i) Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (iii) Vijay Kumar Jain Vs. Standard Chartered Bank &Ors.
94.
61(3)
(i) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors. (ii) K. Sashidhar Vs. Indian Overseas Bank &Ors.
95.
62
(i) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court) (ii) Arcelormittal India Private Limited Vs Satish Kumar Gupta & Ors.
96.
63
(i) Jotun India Private Limited Vs. PSL Limited (Bombay High Court) (ii) SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastructure Limited (iii) Liberty House Group PTE Ltd. Vs. State Bank of India & Others.
97.
64(2)
Jotun India Private Limited Vs. PSL Limited (Bombay High Court)
98.
65
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
Section-wise cases under Insolvency and Bankruptcy Code, 2016
S. No. Section
Case Title
99.
74(3)
Corporation Bank Vs. Amtek Auto Ltd. & Others
100.
75
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
101.
79(16)
India Ltd. Vs. Neelkanth Mansions and Infrastructure Pvt. Ltd.
102.
214(e)
Swiss Ribbons Pvt. Ltd. & Anr. Vs. Union of India & Ors.
103.
214(f)
Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court)
104.
231
(i) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court) (ii) Liberty House Group PTE Ltd. Vs. State Bank of India & Others.
105.
238
(i) Jotun India Private Limited Vs. PSL Limited (Bombay HighCourt) (ii) Macquarie Bank Limited Vs. Shilpi Cable Technologies Limited (Supreme Court) (iii) Shivam Water Treaters Private Limited Vs. Union of India and others (Supreme Court) (iv) Jaipur Metals & Electricals Employees Organisation Through Gen. Sec. Vs. Jaipur Metals & Electricals Ltd. Through its MD & Sons (v) K. Kishan Vs. Vijay Nirman Company Pvt. Ltd. (vi) SREI Infrastructure Finance Limited Vs. Sterling SEZ and Infrastruture Limited (vii) Essar Steel Asia Holdings Ltd. &Ors. Vs. Satish Kumar Gupta &Ors. (viii) Edelweiss Asset Reconstruction Co. Ltd. Vs. Synergies Dooray Automotive Ltd. &Ors. (ix) Liberty House Group PTE Ltd. Vs. State Bank of India & Others. (x) Chitra Sharma Vs. Union of India
106.
238A
BK Educational Services Private Limited Vs. Parag Gupta and Associates (Supreme Court)
107.
252
Jotun India Private Limited Vs. PSL Limited (Bombay High Court)
108.
255
Jotun India Private Limited Vs. PSL Limited Company Petition
xli
Terminology used in the book
Terminology used in the book •
Adjudicating Authority or Tribunal or NCLT means National Company Law Tribunal
• Appellate Authority or Appellate Tribunal or NCLAT means National Company Law Appellate Tribunal •
Code or IBC means Insolvency and Bankruptcy Code, 2016
•
IBBI means Insolvency and Bankruptcy Board of India
•
CIRP means Corporate Insolvency Resolution Process
•
IRP means Interim Resolution Professional
•
RP means Resolution Professional
• SARFAESI Act means the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 •
DRT means Debts Recovery Tribunal
•
RBI means Reserve Bank of India
xliii