# In the matter of  Ashok Kumar Sarawagi  Vs. Enforcement Directorate & Anr.,Special Leave Petition (Civil) Diary No(S). 30092-2022

> SC judgment dated 2022-12-14. Citation: TCN-2022-SC-00002. The case involves a Special Leave Petition (Civil) arising from a final judgment and order passed…

- **Court:** SC
- **Order date:** 14 Dec 2022
- **Citation:** TCN-2022-SC-00002
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/ashok-kumar-sarawagi-vs-enforcement-directorate-anrspecial-leave-petition-28a4865d

## Summary

### Background

The case involves a Special Leave Petition (Civil) arising from a final judgment and order passed by the National Company Law Appellate Tribunal (NCLAT). The petitioner seeks interim relief to conduct and conclude the Corporate Insolvency Resolution Process (CIRP) on an "as is where is basis" and "whatever there is basis". The Enforcement Directorate opposes this prayer, stating that an appeal against the order of attachment has already been filed by the petitioner before the Appellate Authority.

## Facts

The petitioner, Ashok Kumar Sarawagi, filed a Special Leave Petition (Civil) against the Enforcement Directorate & Anr. The petition arises from a final judgment and order dated 09-05-2022 passed by the National Company Law Appellate Tribunal (NCLAT) in CAAT(I) No. 411/2022. The petitioner sought interim relief to conduct and conclude the CIRP on an "as is where is basis" and "whatever there is basis". The Enforcement Directorate opposed the prayer, stating that an appeal against the order of attachment has already been filed by the petitioner before the Appellate Authority. CIRP against the corporate debtor was admitted by order dated 20th November 2019 passed by NCLT. Public announcement about the initiation of CIRP was made on 25th November

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## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to conduct and conclude the CIRP on an "as is where …

**Ratio:** The principle is to balance the continuation of the CIRP process with the potential

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**Reasoning:** The court reasoned that the CIRP process should continue to avoid liquidation of the

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**Interpretation:** The court interpreted the relevant provisions of the IBC and PMLA to allow the

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**Application:** The court applied the ratio to the specific facts by allowing the CIRP to

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## Parties

- **Judges:** SANJAY KISH…; ABHAY S…
- **Appellants:** ASHOK KUMAR…
- **Respondents:** ENFORCEMENT…
- **Other parties:** Modif…

## Timeline

- **2019-11-20 — CIRP Admi…**: CIRP against the corporate debtor…
- **2019-11-25 — Public Announcement of…**: Public announcement about the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31 — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

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