# In the matter of DBS Bank Ltd., Singapore Vs. Shailendra Ajmera & Anr. CA(AT)(Insolvency)No.1068 of 2019

> NCLAT judgment dated 2019-12-09. Citation: TCN-2019-NCLAT-00042. The appeal was preferred by DBS Bank Ltd., Singapore, a dissenting Financial Creditor,…

- **Court:** NCLAT
- **Order date:** 9 Dec 2019
- **Citation:** TCN-2019-NCLAT-00042
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/dbs-bank-ltd-singapore-vs-shailendra-ajmera-anr-ca-05e57d5f

## Summary

### Background

The appeal was preferred by DBS Bank Ltd., Singapore, a dissenting Financial Creditor, against the order dated September 4, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai. The Adjudicating Authority approved the 'resolution plan' filed by ‘Patanjali Ayurved Ltd.', ‘Divya Yog Mandir Trust', 'Patanjali Parivahan Private Ltd' and Patanjali Garmudyog Nyas' (jointly).

## Facts

DBS Bank Ltd., Singapore, as a dissenting Financial Creditor, filed an appeal against the order dated September 4, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai. The Adjudicating Authority approved the 'resolution plan' filed by ‘Patanjali Ayurved Ltd.', ‘Divya Yog Mandir Trust', 'Patanjali Parivahan Private Ltd' and Patanjali Garmudyog Nyas' (jointly). The Appellant categorically stated that they never wanted to challenge the ‘resolution plan'. The appellate tribunal dismissed the appeal based on the appellant's statement.

## Issues and analysis

### Issue 1: Whether the appeal should be dismissed based on the appellant's statement that they did not want to …

**Ratio:** The principle of estoppel prevents a party from asserting a claim that contradicts their

…

**Reasoning:** The Appellant categorically stated that they never wanted to challenge the ‘resolution

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**Interpretation:** The principle of estoppel is applied to prevent a party from taking

…

**Application:** The Appellant's prior statement that they did not want to challenge the

…

## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…; +1 more
- **Appellants:** DBS Bank Ltd.,…
- **Respondents:** Shailendra Ajmera…
- **Advocates:** Krishnendu…; Raghav C…; +9 more

## Timeline

- **2019-09-04 — Adjudicating Authority…**: The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai approved…
- **2019-11-18 — Previous Appellate…**: The Appellate Tribunal dismissed the appeal preferred by the Appellant in ‘Company Appeal…

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