# In the matter of Mahendra Kumar Singhi Vs IBBI &  Ors

> HC judgment dated 2024-06-21. Citation: TCN-2024-HC-00069. This is a writ petition filed in the High Court of Karnataka, Bengaluru, under Articles 226 & 227…

- **Court:** HC
- **Order date:** 21 Jun 2024
- **Citation:** TCN-2024-HC-00069
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/mahendra-kumar-singhi-vs-ibbi-ors-132b264f

## Summary

### Background

This is a writ petition filed in the High Court of Karnataka, Bengaluru, under Articles 226 & 227 of the Constitution of India. The petition challenges an impugned resolution, specifically concerning the appointment of respondent No. 3 as the Resolution Professional. The court issued an emergent notice to respondents 2 to 8 and directed counsel for respondents 1, 9, and 10 to take notice. The court also stayed the impugned resolution regarding the appointment of the Resolution Professional until the next hearing date.

## Facts

The petitioner, Benmrum Endra Kumar Singhi, filed a writ petition in the High Court of Karnataka. The petition challenges an impugned resolution, specifically concerning the appointment of respondent No. 3, Mr. Ravindra Beleyur of Steel Hypermarket India Private Limited, as the Resolution Professional. The Insolvency & Bankruptcy Board of India, the National Company Law Tribunal (Bengaluru Bench), Indian Bank, Bank of Baroda, Cap Float Services Pvt. Ltd., Aditya Birla Finance Ltd., HDFC Bank Ltd., Ministry of Commerce & Industries, and Ministry of Corporate Affairs are listed as respondents. The court issued emergent notices to respondents 2 to 8 and stayed the resolution regarding the appointment of the Resolution Professional until the next hearing.

## Issues and analysis

### Issue 1: Whether the impugned resolution regarding the appointment of respondent No. 3 as the Resolution …

**Ratio:** The court has the power to grant interim relief to prevent irreversible actions or

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**Reasoning:** The court reasoned that staying the resolution was necessary to prevent any potential

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**Interpretation:** This demonstrates the court's interpretation of its power to grant interim

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**Application:** The court applied this principle by staying the resolution, thereby preventing

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## Parties

- **Judges:** S.R. KRISHN…
- **Appellants:** BENMRUM ENDRA…
- **Respondents:** STEEL HYPERMARKET…; Insolvency and…

## Timeline

- **2024-06-21 — Court Or…**: The High Court of Karnataka ordered emergent notices to respondents 2 to 8, directed…

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