# Bhagawant Narayan Naik vs. Ritesh R. Mahajan

> SC judgment dated 2025-01-16. Citation: TCN-2025-SC-00061. The case involves a civil appeal before the Supreme Court of India. The Resolution Professional…

- **Court:** SC
- **Order date:** 16 Jan 2025
- **Citation:** TCN-2025-SC-00061
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/bhagawant-narayan-naik-vs-ritesh-r-mahajan-be5cd4db

## Summary

### Background

The case involves a civil appeal before the Supreme Court of India. The Resolution Professional filed a reply dated 06.06.2024 to IA No. 417/2024 before the National Company Law Tribunal. The Supreme Court found no reason to interfere with the impugned judgment.

## Facts

The case is a civil appeal before the Supreme Court of India. The Resolution Professional filed a reply dated 06.06.2024 to IA No. 417/2024 before the National Company Law Tribunal. The Supreme Court considered the reply and the grounds for appeal. The court decided not to interfere with the impugned judgment. The right to operate the conveyor belt systems and to maintain the same will be treated as an asset and right of the Corporate Debtor in the proceedings pending under the Insolvency and Bankruptcy Code, 2016.

## Issues and analysis

### Issue 1: Whether the right to operate the conveyor belt systems and to maintain the same should be treated …

**Ratio:** Assets of the Corporate Debtor are to be considered within the proceedings under the

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**Reasoning:** The Court explicitly stated that the right to operate the conveyor belt systems and to

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**Interpretation:** This clarifies that such operational rights are considered part of the

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**Application:** This ensures that the value of these rights is considered during the resolution

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## Parties

- **Judges:** SANJIV K…; Sanjay…; +1 more
- **Appellants:** BHAGAWANT NARAYAN…
- **Respondents:** Ritesh R. M…
- **Other parties:** Post Initiation…; Sale of Pr…; +1 more

## Timeline

- **2024-06-06 — Reply Fi…**: The Resolution Professional filed a reply to IA No. 417/2024 before the National Company…
- **2025-01-16 — Order Da…**: The Supreme Court…

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