# In the matter of BKM Industries Limited

> NCLT judgment dated 2024-01-05. Citation: TCN-2024-NCLT-03291. The case involves an application (I.A. (IB) No. 1124/KB/2023) filed by ICICI Bank Limited under…

- **Court:** NCLT
- **Order date:** 5 Jan 2024
- **Citation:** TCN-2024-NCLT-03291
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bkm-industries-limited-3f275410

## Summary

### Background

The case involves an application (I.A. (IB) No. 1124/KB/2023) filed by ICICI Bank Limited under Rule 11 read with 154 of the NCLT Rules, 2016, seeking modification of paragraphs 21 and 22 of an order dated March 01, 2023, which was passed in I.A. (IB)/471/KB/2022 in CP (IB)/2078/KB/2019. The original order pertained to a matter between ICICI Bank Limited and Pratim Bayal. The applicant sought modification to the extent indicated in paragraph V (b) (vi) and V (b) (ix) of the application, as well as any other orders deemed fit and proper.

## Facts

ICICI Bank Limited filed an application (I.A. (IB) No. 1124/KB/2023) seeking modification of paragraphs 21 and 22 of an order dated March 01, 2023. This original order was passed in I.A. (IB)/471/KB/2022 in CP (IB)/2078/KB/2019, a case between ICICI Bank Limited and Pratim Bayal. The application was filed under Rule 11 read with 154 of the NCLT Rules, 2016. The Hon'ble NCLAT in Company Appeal (AT) (Insolvency) No.405 of 2023 upheld the order dated March 01, 2023, stating that no error was committed by the Adjudicating Authority in rejecting I.A. No.471 of 2022. This fact is crucial because it establishes that a higher court has already reviewed and affirmed the original order, which is the subject of the modification request.

## Issues and analysis

### Issue 1: Whether the NCLT can alter or modify an order that has already been upheld by a higher appellate …

**Ratio:** An order which has already been upheld by a

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**Reasoning:** The court reasoned that once a higher appellate forum has reviewed and upheld an order,

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**Interpretation:** This principle ensures that decisions of higher courts are binding and that

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**Application:** In this case, the NCLAT had already upheld the order dated March 01, 2023.

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## Parties

- **Judges:** RohitKa…; Balraj…
- **Respondents:** BKM INDUSTRIES…; PratimB…
- **Advocates:** Mr Ratnanko…; Pooja Chakr…; +3 more

## Timeline

- **2023-03-01 — Original Ord…**: Date of the order in I.A. (IB)/471/KB/2022 in CP (IB)/2078/KB/2019 that ICICI Bank…
- **2023-11-06 — NCLAT Or…**: The Hon'ble NCLAT upheld the order dated March 01, 2023, in Company Appeal (AT)…

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