# In the matter of IDBI Bank Limited vs. Purvi Rakshit Doshi

> NCLT judgment dated 2024-10-25. Citation: TCN-2024-NCLT-00337. The case involves proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 25 Oct 2024
- **Citation:** TCN-2024-NCLT-00337
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/idbi-bank-limited-vs-purvi-rakshit-doshi-9d5ffc5c

## Summary

### Background

The case involves proceedings under Section 95 of the Insolvency and Bankruptcy Code (IBC). IDBI Bank Limited filed an application against Purvi rakshit Doshi. The Hon'ble High Court of Gujarat passed an interim stay order in the matter dated 18.10.2024, which has been placed before the NCLT Ahmedabad. The interim stay order pertains to further proceedings of IA 1051 of 2024 in CP(IB) no. 186 of 2024 before the NCLT, Ahmedabad, until the next hearing.

## Facts

IDBI Bank Limited initiated proceedings against Purvi rakshit Doshi under Section 95 of the IBC. The case was before the NCLT, Ahmedabad. The High Court of Gujarat issued an interim stay order dated 2024-10-18, halting further proceedings in IA 1051 of 2024 in CP(IB) no. 186 of 2024 before the NCLT, Ahmedabad, until the next hearing. The NCLT acknowledged the stay and adjourned the matter beyond 2024-12-11. The Registry was instructed to inform the Principal Bench New Delhi and the IBBI about the stay order.

## Issues and analysis

### Issue 1: Whether the NCLT, Ahmedabad, should stay the proceedings in light of the interim stay order passed …

**Ratio:** A lower court must respect and comply with the orders of a higher court. An interim stay

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**Reasoning:** The NCLT recognized the binding nature of the High Court's interim stay order. Continuing

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**Interpretation:** The interim stay order is interpreted as a temporary suspension of proceedings,

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**Application:** The NCLT applied the ratio by adjourning the matter beyond 2024-12-11,

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** IDBI Bank L…
- **Respondents:** Purvi rakshit…

## Timeline

- **2024-10-18 — High Court Interim Stay…**: The Hon'ble High Court of Gujarat passed…
- **2024-10-25 — NCLT Ord…**: NCLT, Ahmedabad, acknowledges the High Court's interim stay order and adjourns the matter…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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