The case involves two Interlocutory Applications (I.A. Nos. 3944 & 3956 of 2024) filed in Company Appeal (AT) (Insolvency) No. 1174 of 2023. I.A. No. 3956/2024 was filed by State Bank of India (SBI) seeking directions for the release of securities. I.A. No. 3944/2024 was filed by Cable Corporation of India Ltd. seeking modification of a previous judgment to direct the Respondent (SBI) to issue a no-dues certificate, release securities, and hand over relevant documents. The appeal arises from an order dismissing Section 7 application filed by SBI.
State Bank of India (SBI) filed I.A. No. 3956 of 2024 seeking directions for the release of securities. Cable Corporation of India Ltd. filed I.A. No. 3944 of 2024 seeking modification of a previous judgment to direct SBI to issue a no-dues certificate, release securities, and hand over relevant documents. A previous judgment dated 23.04.2024 directed the Corporate Debtor to deposit Rs.3.68 crores with SBI for clearing liabilities of existing live PBGs. SBI had filed an application stating that no harm would be caused if the securities were released to another consortium banker, Punjab National Bank (PNB). Cable Corporation of India Ltd. had requested SBI to release the securities to PNB. An investigation officer from the Economic Offence Wing, Mumbai, had sent a
…Sign in to view the parties.
Company Appeal (AT)…
Judgment dated 23.04.2024 issued directions…
Sign in to view related legal provisions.
The case involves two Interlocutory Applications (I.A. Nos. 3944 & 3956 of 2024) filed in Company Appeal (AT) (Insolvency) No. 1174 of 2023. I.A. No. 3956/2024 was filed by State Bank of India (SBI) seeking directions for the release of securities. I.A. No. 3944/2024 was filed by Cable Corporation of India Ltd. seeking modification of a previous judgment to direct the Respondent (SBI) to issue a no-dues certificate, release securities, and hand over relevant documents. The appeal arises from an order dismissing Section 7 application filed by SBI.
State Bank of India (SBI) filed I.A. No. 3956 of 2024 seeking directions for the release of securities. Cable Corporation of India Ltd. filed I.A. No. 3944 of 2024 seeking modification of a previous judgment to direct SBI to issue a no-dues certificate, release securities, and hand over relevant documents. A previous judgment dated 23.04.2024 directed the Corporate Debtor to deposit Rs.3.68 crores with SBI for clearing liabilities of existing live PBGs. SBI had filed an application stating that no harm would be caused if the securities were released to another consortium banker, Punjab National Bank (PNB). Cable Corporation of India Ltd. had requested SBI to release the securities to PNB. An investigation officer from the Economic Offence Wing, Mumbai, had sent a
…Company Appeal (AT)…
Judgment dated 23.04.2024 issued directions…
Sign in to view related legal provisions.